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Is China buying US debt in RMB or USD?
Renminbi. For China, the direct use of RMB for settlement is more conducive to the connection between China and the international market, and more efficient to promote the transaction efficiency of both parties. But this is very bad for the United States. Taking the US dollar as the basis of the international trading system means that whenever there is a transaction in the world, the common currency of international trade, the US dollar, will gain some benefits in the transformation. In addition, taking the United States as the common currency unit of international transactions is the embodiment of the absolute position of the United States in the world.