Recently, the global bond market has been turbulent, with the downgrading of the U.S. credit rating raising widespread concerns, even leading to discussions about whether the position of U.S. Treasuries is at risk. Hu Yitian, founder of Yuan Platinum Capital, stated on the show "After Work International Line" that the rise of stablecoins may assist in restructuring U.S. fiscal policies.

He mentioned the "333 Plan" proposed by U.S. Treasury Secretary Bessent, which aims to achieve a 3% deficit and 3% GDP growth to help stabilize the economy. However, this plan seems challenging under the current economic circumstances. Hu Yitian pointed out that if stablecoin issuers are allowed to operate legally in the U.S., they could become new financial institutions to support low-interest short-term U.S. government bonds.

Hu emphasized that the demand for U.S. Treasuries cannot solely rely on the Federal Reserve and the Treasury, hence new capital must enter the market to effectively address debt repayment issues. He mentioned that known stablecoin operators such as USDT and USDC have a significant circulation, and if this is expanded, they can provide much-needed support to the U.S. government.

Regarding U.S.-China relations, Hu noted the complexity of their economic interdependence, making complete decoupling difficult, yet emphasized the necessity of independence in defense sectors. He believes that ensuring the stability of the RMB is crucial for China, and if the U.S. becomes a source of uncertainty, China can emerge as a stabilizing force.