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How to read China’s US Treasury sell-off
In the home stretch of a rocky 2023, China and Warren Buffett are warning the global economy that the year ahead could be even more precarious. Not directly or in tandem, of course. But the financial decisions being made in Omaha, Nebraska and Beijing don’t seem very promising for the 12-14 months ahead. Buffett’s Berkshire Hathaway conglomerate, for example, is raising its cash position in headline-generating ways. Its cash pile is now a record-breaking US$157.2 billion amid rising global interest rates and a lack of solid investment options. Xi Jinping’s China is also going as liquid as it can — and rapidly ... (full story)