BRICS: Chinese Investors Dump a Record $5.1 Billion in US Stocks
BRICS member China is pulling every trick up its sleeve to stall the growth of the US dollar and stocks. China is dumping both US treasuries and equities to keep the Yuan from ending at a new low against the US dollar. In August alone, China sold $21.2 billion worth of US treasuries and stocks to stop the rising dollar. The BRICS alliance combinedly indulged in a $123 billion worth of sell-off in US government bonds and treasuries this year. China is the flag-bearer for BRICS in its quest to free the world from the US dollar supremacy. Also Read: BRICS : Chinese Yuan Surpasses Euro, Becomes Second Main SWIFT Currency While the Communist government challenging the US dollar wasn’t enough, institutional Chinese investors are now hand-in-glove with the Jinping administration. Chinese investors also indulged in massive sell-off by dumping billions worth of US stocks, according to Bloomberg. BRICS: Institutional Chinese Investors Dumped $5.1 Billion Worth of US Stocks Sou...