BRICS member China has dumped over $21 billion in its US treasuries since the beginning of 2024. The data is highlighted by the largest sell-off initiated by China ever recorded, with $53.3 billion dumped in Q1 2024 alone. Data from Q3 2024 has yet to be compiled, but at recent rates, could add $5B-$10B more dumped by the BRICS founder this year.
China and other BRICS countries have been offloading US treasuries worth billions since 2022. The Communist country has a record of dumping the highest in the last two years. The development indicates that BRICS and other developing countries want to move away from owning US assets in their reserves. The greenback has suffered from de-dollarization and inflation over the same period of years. Now, more countries around the world are eyeing BRICS as an alternative to not suffer the same fate at the hands of the US dollar.
US Debt reached over $35.6 trillion in 2024, much to the fear of USD…
