Treasury’s Malpass Says U.S. Bond Market Robust, Warns on China
- Malpass says Chinese subsidies distort allocation of capital
- Calls for “more modesty” by international institutions
China Officials Said to Change View of Treasuries
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A top U.S. Treasury official dismissed concerns about Chinese demand for U.S. debt, as he lashed out at Beijing’s economic policies, which the Trump administration says have moved away from a path of market liberalization.
“As we look at China now, it’s putting emphasis on state-owned enterprises on the involvement of the party, the political apparatus into the business sectors, heavy subsidies continuing, which distorts the allocation of capital,” Under Secretary for International Affairs David Malpass said to a group of reporters in Brussels.