Reference Message Network reported on May 30 that the Spanish "China Knowledge" website published an article titled "The Rise of China and Trump's Tariffs: A Fatal Blow to the Dollar and U.S. Treasury Bonds?" on May 28. The author is Pedro Barragán. The following are excerpts from the article: For decades, the United States has maintained its global financial hegemony through two pillars: the dollar as the international reserve currency and U.S. Treasury bonds as risk-free assets. However, this status may be coming to an end, and one of the key factors behind this shift is China's unstoppable progress, along with the ongoing impact of the tariff war initiated by the Trump administration. Market signals are very clear. The yield on 30-year U.S. Treasury bonds has exceeded 5%, a psychological threshold not reached since October 2023. Meanwhile, the U.S. Dollar Index has fallen by more than 7% this year, wiping out all gains accumulated in 2024. These figures reflect a profound change in the global perception of America's economic leadership. China has played a central role in this transformation. With sustained growth and leading positions in critical areas such as renewable energy, semiconductors, and artificial intelligence, as well as initiatives related to the internationalization of the renminbi, China is no longer just an emerging major power but is beginning to emerge as a competitor on the global financial stage. The trade war launched by Trump against China in 2018 changed the rules of the game, pushing China to strengthen its economic autonomy. This trade war escalated into a technology war in争夺 leadership in new technology fields. America's attempt to contain China's progress has not only failed to make China yield but has also strengthened China's determination to reduce reliance on the dollar and the U.S.-dominated financial system. It has also promoted deeper alliances with Southern countries, expanding the scale of the Belt and Road Initiative through more measures such as the "Digital Silk Road" and using the renminbi in bilateral cooperation. The Trump administration's announcement of a 50% tariff on EU products will reinforce the global perception of America moving toward economic isolationism and undermining global financial stability. Europe is seeking to strengthen its defenses, including reducing dependence on the dollar. Moody's recently downgraded the U.S. sovereign credit rating, sending a clear signal to the market that the world's most indebted country can no longer boast of its unquestionable debt repayment ability. The sustainability of U.S. debt is becoming increasingly questionable. The decline of the dollar's position marks a fundamental shift. Today, an increasing number of countries are exploring ways to diversify their reserve currencies and reduce exposure to the dollar, looking forward to a world where financial power is no longer concentrated in a single currency or economy. What we are witnessing is not just a market crisis but also a reshuffling of the global geopolitical and financial order. The dollar and U.S. Treasury bonds are losing their invincible aura. And the story behind this is China's rise and the self-inflicted damage caused by Trump's tariff war. One thing is certain: the international financial system will never be the same again. (Compiled/Translated by Wang Meng) [Image: https://p3-sign.toutiaoimg.com/tos-cn-i-axegupay5k/c6196d8898784a3a8e54e6303414aa52~tplv-tt-origin-web:gif.jpeg?_iz=58558&from=article.pc_detail&lk3s=953192f4&x-expires=1749197895&x-signature=sE%2F6us8ePWzi19jR8ZCX1do%2FWnw%3D] On April 24, at the Shenzhen Convention and Exhibition Center, visitors watched a humanoid robot demonstration at the Unitree Technology booth during the first Robot Industry Chain Conference. (Xinhua News Agency) Original article: https://www.toutiao.com/article/7510143078397821490/ Disclaimer: The article solely represents the views of the author. Please express your attitude by clicking the "Like/Dislike" buttons below.