Unless no one would lone you the money, unless you had to beg a high rate. ( At a time of world historic lows. Like zero, for some. )
Then selling assests, at a loss, would explain the behavior also.
But yeah, CCP China cash flow is great.
1. Selling US Treasuries for cash dollars.
2. Pissed off its No 1 source of dollars.
3. 1.3 billion people to feed with dollar priced food commodities. Food inflation up 10%+ . Kind of rough on the 2-300 million uber poor, 200 million working class.
4. World shortage of dollars.
5. Dollar financial center ( HK )in revolt.
But yeah, China is fat dollars. Not. They're in a squeeze and they have no, zero, *** credit. They haven't borrowed because they are greedy commie idiots. Now they cant borrow. They are like a gut who paid cash all his life and has no credit history and goes to a bank to borrow. No dice.