PETALING JAYA: Asian countries, which currently hold about half of the US$2.7trillion in US Treasury bills, will have to continue to support the world’s biggest economy as a rush to dump US Treasury notes now would lead to a collapse in the global financial system, economists warned.
A recent Bloomberg report quoted Yu Yongding, a former adviser to the Chinese central bank, as saying there would be a global financial collapse if central banks were to rush into selling US Treasuries.
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