Recently, there have been high-level exchanges between China and the United States, including the visit of China's Minister of Commerce to the United States and the ongoing visit of the U.S. Secretary of State to Beijing.

This is the highest-ranking U.S. official to visit China since 2018, indicating signs of easing relations between the two sides.

However, at the same time, we have noticed that the economies of China and the U.S. have reached a clear watershed, which also originated from the trade war in 2018.

A comparison of the two economies from multiple perspectives shows a clear divergence.

In the financial sector, although U.S. bonds have high yields, they are being sold off by various capital sources, while Chinese yuan bonds are very popular.

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Shortly after Biden signed the latest relief package in early June, the U.S. Treasury has eagerly issued several batches of short-term bonds.

For example, the face interest rate of one batch of 17-week bonds has reached as high as 5.15%.

In the past, the yield on U.S. bonds was very low, but it was still a guarantee of confidence.

Now that the yield on U.S. bonds has increased, it is difficult to attract central banks from various countries.

The latest data shows that most overseas central banks have started to reduce their holdings of U.S. bonds again, and even the United States' ally, the United Kingdom, has recently sold off more than 30 billion U.S. dollars.

On the other hand, Chinese yuan bonds are very popular.

Just last week, the Ministry of Finance also sold 12 billion yuan of government bonds through the Hong Kong market.

The face interest rate of the ten-year Chinese yuan bonds issued this time is only 2.71%, much lower than the interest rate of U.S. bonds, but still oversubscribed by overseas institutions.

At the same time, in the bond market, the yield on ten-year government bonds has fallen to 2.6353%, the lowest in nine months.

In terms of bond trading, the yield on U.S. bonds is continuously rising, while the yield on Chinese government bonds is continuously falling, indicating a fact: U.S. bonds are being sold off, and Chinese government bonds are being continuously snapped up.

If we look from a more macro perspective, China's economy is also becoming more and more influential globally, and some foreign media have said that China should have more say.

The last economic crisis occurred in 2008, when the G7 had a very high position in the global economy.

But it is clear that not only the economic dominance of the G7, but even the "unipolar" economic status of the United States has become history.

Now China's development is equivalent to success, and China's market share has risen by 12% globally.

Through the development of the Belt and Road Initiative, China has become an important investor for many developing countries, and even an important partner for some emerging developing countries, even more important than the G7.

China's influence in the BRICS is also very great, and there are continuous applications from countries to join the BRICS, including Russia, Saudi Arabia, Iran, Argentina, and so on.

According to incomplete statistics, at least nearly 20 countries have expressed their desire to join the BRICS organization.

After all, compared with the G7 group, the BRICS has also become an important global economic organization.

From the development of the BRICS and the Belt and Road Initiative, and comparing with the development of the G7 organization, we can see that China and the United States have completely different ideas.

We care more about cooperation with different countries, but the United States is constantly threatening to decouple.

In fact, the G7 has not recognized the shares of various countries in the current world economy, and still believes that China cannot have more say.

The final result may be that some countries that have boarded the fast train of China's development will continue to develop, while those countries that always want to split the globalized economy will have to fall into recession.