[Gow8876]

For USA debts, it is falling. The last 3 years Fed need to buy the left over new bills unsold. In the past, 100% being sold to public and sovereign. But the last 3 years spooked US Treasury as routinely only half sold. Janet even had to fly over to China to "kowtow" to Xi to not sell but buy. It wasn't reported much in the west, but widely in the east and exceedingly humiliating if you able to read the chinese reporting. Essentially now, Fed is directly printing money to American public without going through hoops. Coincidentally the last 3 years inflation exceed way higher than 2% even though interest has been increased from 0% to 4+%.

[Our_Benefactors]

> exceedingly humiliating if you able to read the chinese reporting

Given that what passes for “exceedingly humiliating” is extremely different between the two cultures, this seems more like packaging the transaction to be more palatable for a domestic Chinese audience that dislikes the idea of their leadership doing business with America.