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US debt ceiling

US debt ceiling
The debt ceiling is the legal limit on the amount of money the US government can borrow. Since 1960, Congress has increased the debt ceiling 79 times - 49 times under Republican presidents and 30 times under Democratic presidents.
US Treasury Secretary Scott Bessent addresses a news conference on Tuesday after the G20 financial meetings in Asheville, North Carolina. Photo: AFP
Banking & finance

Analysts warn that benchmark bond yields are approaching ‘concern zone’

With US 10-year Treasury yield at a 20-month high, alarm bells expected to ring if it crosses 5 per cent tipping point.

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US sanctions on China

Opinion | Why US sanctions threats against China aren’t credible

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United States

America’s US$40 trillion debt gamble is getting harder to ignore: economists

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Banking & finance

US 30-year Treasury streak: what do 5% yields mean for global investors?

The historic run is forcing investors to ask whether high borrowing costs are a short-term headache or the new normal.

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The Federal Reserve Board building in Washington on November 14, 2025. Photo: Reuters
China debt

China, US drive global debt to record US$353 trillion – what’s behind the surge?

New report warns that rising conflicts, AI spending and energy security push are all expected to further increase global debt levels.

Foreign exchange market

China trims US Treasury holdings as global ownership hits record

Beijing slightly pares its sovereign US debt position as private investors and certain financial hubs drive demand up.

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Banking & finance

Editorial | US debt dysfunction puts the global economy at risk

America’s inability to get its financial house in order risks market turmoil at home and spillovers abroad.

People walk past a bus stand displaying the US national debt in Washington, DC on October 7, 2025. Photo: AFP
Banking & finance

US federal debt becoming ‘alarmingly unsustainable’ as Iran war fuels spending

Washington’s rapid accumulation of sovereign debt sparks outcry, with some analysts questioning if Trump has the political will to cut the deficit.

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Two Sessions 2026

China pledges ‘iron discipline’ to tackle debt as US borrowing surges

Global debt reached a record high in 2025 and rose in the world’s two largest economies.

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Banking & finance

‘Stability risk’: US faces rising concern as global debt soars to record high

Global debt accumulation ‘accelerated sharply’ in 2025, driven by surging investment in the US, China and Europe, report finds.

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Massive investment in artificial intelligence data centres has contributed to a rapid build-up in global debt levels over the past year, according to a new report. Photo: Shutterstock
Banking & finance

‘America First’ Fed? Why China economists doubt Trump’s pick can boost US dollar

Kevin Warsh unlikely to deliver long-term rebound while central bank independence still at risk, analysts say.

Kevin Warsh, Trump’s nominee for Fed chair, speaks during the Sohn Investment Conference in New York City, in 2017. Photo: Reuters
US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

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US-Venezuela conflict

Opinion | Forget Venezuela and Greenland – here is the real trillion-dollar question

As the world fixates on US military adventurism, trillion-dollar shifts in trade, R&D and debt are rebalancing the global economy and geopolitics.

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United States

Opinion | Will the US republic survive stress test of Trump’s presidency?

America is facing a rare array of pressures including expanding executive powers, strategic dependencies, legitimacy deficits and fiscal rigidity.

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Protesters gather near the Broadview Immigration and Customs Enforcement (ICE) detention facility in Broadview, Illinois, to demand that the National Guard leave Chicago, on October 9. Photo: AFP
US-China trade war

China sells US Treasuries, buys gold

Chinese holdings of US government debt fell to US$731 billion in July, trailing Japan and the UK, while gold reserves kept on climbing.

China sells US Treasuries, buys gold
China debt

In China, Ray Dalio discusses global debt issues as Beijing seeks his counsel

With local-level debt still posing risks in China, while US borrowing accelerates, Beijing turns to the Wall Street veteran for guidance while navigating precarious financial waters.

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China debt

As China defuses its time bomb of debt, US hears the ticking intensify

Why do analysts see America’s debt situation as ‘more concerning’, and why is China’s situation a ‘big advantage’?

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China debt

Why did a Chinese economist slam Ray Dalio on debt situations in US, China?

Xu Gao’s 9,000-word article, ‘Where Did Dalio Go Wrong on National Debt?’, comes as China’s Politburo is preparing to set policy tone for rest of year.

Bridgewater Associates founder Ray Dalio’s latest book came out last month. Photo: Getty Images
Cryptocurrency

Opinion | In debt-bloated US, stablecoin a new financial weapon in the making

Forget austerity, Trump has ‘big, beautiful’ spending plans and is exploring US bank-backed stablecoin to turn the spreadsheets around.

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Donald Trump

Trump tax law projected to add US$3.4 trillion to US deficits

Trump’s ‘One Big Beautiful Bill’ was signed into law on July 4 after months of negotiations with congressional Republicans.

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US-China trade war

China cuts US Treasury stockpiles to the lowest level since 2009

Beijing shed more US debt in May as trade tensions flared and Trump’s ‘Big Beautiful Bill’ sparked alarm.

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Chinese yuan banknotes are sandwiched between several US dollar bills. Photo: Fernando Gutierrez-Juarez/dpa
US-China relations

Will Trump’s ‘Big Beautiful Bill’ offer opportunities for China?

Some analysts believe the tax and spending act will ‘cause some trouble’, but others say there could be an upside for Beijing.

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Donald Trump signs the Big Beautiful Bill Act into law. Photo: TNS
United States

Opinion | Decades of America’s ‘exorbitant privilege’ is ending, thanks to Trump

The US president is systematically destroying faith in the dollar in global financial markets and among governments and central banks.

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Banking & finance

Did Trump get his ‘Big Beautiful Bill’ at the US dollar’s expense?

Analysts say the sweeping budget act resolves the immediate debt crisis, but the resultant deficit could accelerate global de-dollarisation.

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Donald Trump

Trump’s budget bill is a debt bomb. Can the ‘Pennsylvania Plan’ defuse it?

New framework offers recommendations to reduce foreign holdings of US debt – a sum estimated to grow by trillions if spending bill is passed.

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US President Donald Trump hopes to turn his signature budget bill into law before a self-imposed deadline of July 4. Photo: AP
US-China trade war

China sells US Treasuries

China’s holdings of US government bonds fell to US$757 billion in April, behind those of Japan and the UK, as its gold reserves rose.

The Chinese sell-off in US Treasuries
US-China trade war

China cuts US Treasury stockpiles to 16-year low amid Trump’s trade war

As tariffs rattled markets in April, Beijing’s US debt holdings fell to their lowest level since 2009.

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United States

Trump’s big tax-cut bill advances as debt concerns mount

Millions could lose Medicaid coverage under the bill, which analysts say will add trillions of dollars to US debt over the next 10 years.

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