Amidst the recent fluctuations in the global bond market and the downgrade of the US credit rating, concerns have raised whether the status of US treasury bonds is under threat. Hutian, founder of Yuan Platinum Capital, indicated in the program 'After Work International Line' that 'stablecoins' might assist in adjusting the structural framework of US treasury bonds, which would enable changes in the types of institutions holding these assets.

Hutian mentioned the '333 Plan' proposed by US Treasury Secretary Yellen, aiming for a 3% deficit, a 3% GDP growth rate, and the sale of 3 million barrels of US crude oil daily. While theoretically reasonable, challenges arise due to tariffs and geopolitical tensions, making even a 1% or 2% growth this year ambitious, with negative growth still a real possibility.

He emphasized that stablecoins are crucial, as issuers operating under US law could emerge as new quasi-financial institutions capable of purchasing low-yield, short-term US government treasury bonds, thereby supporting the dollar's position.

Regarding Sino-US relations, Hutian noted the mutual dependencies which make complete decoupling unlikely, even in key defense sectors, while maintaining that stability in the Yuan is essential for China’s strategic development.