{"id":15662,"date":"2026-05-20T10:16:18","date_gmt":"2026-05-20T03:16:18","guid":{"rendered":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/20\/cac-chinh-phu-nuoc-ngoai-ban-manh-trai-phieu-kho-bac-my-va-he-luy-thanh-khoan\/"},"modified":"2026-05-20T10:16:18","modified_gmt":"2026-05-20T03:16:18","slug":"cac-chinh-phu-nuoc-ngoai-ban-manh-trai-phieu-kho-bac-my-va-he-luy-thanh-khoan","status":"publish","type":"post","link":"https:\/\/taichinhphowall.com\/index.php\/2026\/05\/20\/cac-chinh-phu-nuoc-ngoai-ban-manh-trai-phieu-kho-bac-my-va-he-luy-thanh-khoan\/","title":{"rendered":"C\u00e1c ch\u00ednh ph\u1ee7 n\u01b0\u1edbc ngo\u00e0i b\u00e1n m\u1ea1nh tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 v\u00e0 h\u1ec7 l\u1ee5y thanh kho\u1ea3n"},"content":{"rendered":"
\n

C\u00e1c ch\u00ednh ph\u1ee7 n\u01b0\u1edbc ngo\u00e0i b\u00e1n m\u1ea1nh tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 trong th\u00e1ng 3, t\u1ea1o n\u00ean m\u1ed9t \u0111\u1ee3t s\u00f3ng rung l\u1eafc tr\u00ean th\u1ecb tr\u01b0\u1eddng n\u1ee3 to\u00e0n c\u1ea7u. \u0110\u00e1ng ch\u00fa \u00fd, d\u1eef li\u1ec7u t\u1eeb B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9 cho th\u1ea5y s\u1ef1 r\u00fat lui quy m\u00f4 l\u1edbn t\u1eeb c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, trong b\u1ed1i c\u1ea3nh xung \u0111\u1ed9t \u0111\u1ecba ch\u00ednh tr\u1ecb t\u1ea1i Trung \u0110\u00f4ng \u0111\u1ea9y gi\u00e1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng v\u1ecdt v\u00e0 g\u00e2y \u00e1p l\u1ef1c m\u1ea5t gi\u00e1 nghi\u00eam tr\u1ecdng l\u00ean c\u00e1c \u0111\u1ed3ng n\u1ed9i t\u1ec7, \u0111\u1eb7c bi\u1ec7t l\u00e0 t\u1ea1i th\u1ecb tr\u01b0\u1eddng ch\u00e2u \u00c1.<\/p>\n

\n \"C\u00e1c
\u1ea2nh t\u1eeb ngu\u1ed3n: vneconomy.vn<\/em><\/figcaption><\/figure>\n

B\u1ea3n ch\u1ea5t \u0111\u1eb1ng sau vi\u1ec7c c\u00e1c ch\u00ednh ph\u1ee7 n\u01b0\u1edbc ngo\u00e0i b\u00e1n m\u1ea1nh tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9<\/h2>\n

Th\u1ef1c t\u1ebf cho th\u1ea5y m\u1ed9t ngh\u1ecbch l\u00fd l\u00e0 trong khi n\u1ee3 M\u1ef9 v\u1ed1n \u0111\u01b0\u1ee3c xem l\u00e0 “h\u1ea7m tr\u00fa \u1ea9n” an to\u00e0n, c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1ea1i \u0111ang bu\u1ed9c ph\u1ea3i tho\u00e1i v\u1ed1n \u0111\u1ec3 b\u1ea3o v\u1ec7 t\u1ef7 gi\u00e1. Vi\u1ec7c c\u00e1c ch\u00ednh ph\u1ee7 n\u01b0\u1edbc ngo\u00e0i b\u00e1n m\u1ea1nh tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 di\u1ec5n ra khi \u00e1p l\u1ef1c t\u1eeb c\u00fa s\u1ed1c n\u0103ng l\u01b0\u1ee3ng khi\u1ebfn ngu\u1ed3n d\u1ef1 tr\u1eef USD tr\u1edf n\u00ean qu\u00fd gi\u00e1 h\u01a1n bao gi\u1edd h\u1ebft. Khi \u0111\u1ed3ng n\u1ed9i t\u1ec7 \u0111\u1ed1i m\u1eb7t v\u1edbi nguy c\u01a1 lao d\u1ed1c, c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch bu\u1ed9c ph\u1ea3i b\u00e1n \u0111i c\u00e1c t\u00e0i s\u1ea3n thanh kho\u1ea3n cao nh\u01b0 tr\u00e1i phi\u1ebfu kho b\u1ea1c \u0111\u1ec3 can thi\u1ec7p tr\u1ef1c ti\u1ebfp v\u00e0o th\u1ecb tr\u01b0\u1eddng ngo\u1ea1i h\u1ed1i.<\/p>\n

T\u1ea1i Nh\u1eadt B\u1ea3n, qu\u1ed1c gia ch\u1ee7 n\u1ee3 l\u1edbn nh\u1ea5t c\u1ee7a Washington, vi\u1ec7c tho\u00e1i v\u1ed1n \u0111\u00e3 di\u1ec5n ra m\u1ea1nh m\u1ebd khi \u0111\u1ed3ng y\u00ean ch\u1ecbu \u00e1p l\u1ef1c t\u1eeb th\u00e2m h\u1ee5t t\u00e0i kho\u1ea3n v\u00e3ng lai. Nh\u1eefng b\u01b0\u1edbc \u0111i t\u01b0\u01a1ng t\u1ef1 c\u0169ng \u0111\u01b0\u1ee3c ghi nh\u1eadn t\u1ea1i Trung Qu\u1ed1c, n\u01a1i l\u01b0\u1ee3ng n\u1eafm gi\u1eef tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 \u0111\u00e3 gi\u1ea3m xu\u1ed1ng m\u1ee9c th\u1ea5p nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 9\/2008. D\u1eabu v\u1eady, gi\u1edbi ph\u00e2n t\u00edch cho r\u1eb1ng con s\u1ed1 652,3 t\u1ef7 USD c\u00f3 th\u1ec3 ch\u01b0a ph\u1ea3n \u00e1nh \u0111\u1ea7y \u0111\u1ee7 b\u1ee9c tranh th\u1ef1c t\u1ebf, khi c\u00e1c trung t\u00e2m l\u01b0u k\u00fd nh\u01b0 B\u1ec9 v\u00e0 Luxembourg th\u01b0\u1eddng \u0111\u00f3ng vai tr\u00f2 l\u00e0 “m\u1ea1ch d\u1eabn” cho c\u00e1c qu\u1ef9 li\u00ean k\u1ebft nh\u00e0 n\u01b0\u1edbc c\u1ee7a B\u1eafc Kinh, gi\u00fap duy tr\u00ec s\u1ef1 \u1ed5n \u0111\u1ecbnh ng\u1ea7m cho danh m\u1ee5c \u0111\u1ea7u t\u01b0.<\/p>\n

\u00c1p l\u1ef1c thanh kho\u1ea3n v\u00e0 s\u1ef1 thay \u0111\u1ed5i trong chi\u1ebfn l\u01b0\u1ee3c n\u1eafm gi\u1eef n\u1ee3<\/h2>\n

Vi\u1ec7c c\u00e1c ch\u00ednh ph\u1ee7 n\u01b0\u1edbc ngo\u00e0i b\u00e1n m\u1ea1nh tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 kh\u00f4ng ch\u1ec9 \u0111\u01a1n thu\u1ea7n l\u00e0 h\u00e0nh \u0111\u1ed9ng can thi\u1ec7p t\u1ef7 gi\u00e1 m\u00e0 c\u00f2n ph\u1ea3n \u00e1nh t\u00e2m th\u1ebf ph\u00f2ng th\u1ee7 tr\u01b0\u1edbc r\u1ee7i ro l\u1ea1m ph\u00e1t. Khi xung \u0111\u1ed9t k\u00e9o d\u00e0i l\u00e0m d\u1ea5y l\u00ean lo ng\u1ea1i v\u1ec1 s\u1ef1 tr\u1ed7i d\u1eady c\u1ee7a l\u1ea1m ph\u00e1t, l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 \u0111\u00e3 v\u1ecdt l\u00ean m\u1ee9c cao nh\u1ea5t k\u1ec3 t\u1eeb th\u00e1ng 2\/2025, v\u01b0\u1ee3t m\u1ed1c 4,6%. S\u1ef1 s\u1ee5t gi\u1ea3m gi\u00e1 tr\u1ecb danh m\u1ee5c l\u00ean t\u1edbi 142,1 t\u1ef7 USD ch\u1ec9 trong th\u00e1ng 3 \u0111\u00e3 khi\u1ebfn c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd d\u1ef1 tr\u1eef qu\u1ed1c gia ph\u1ea3i \u0111i\u1ec1u ch\u1ec9nh l\u1ea1i chi\u1ebfn l\u01b0\u1ee3c, chuy\u1ec3n d\u1ecbch sang c\u00e1c t\u00e0i s\u1ea3n t\u01b0\u01a1ng t\u1ef1 ti\u1ec1n m\u1eb7t nh\u1eb1m \u0111\u1ea3m b\u1ea3o t\u00ednh thanh kho\u1ea3n t\u1ed1i \u0111a.<\/p>\n

Trong khi xu h\u01b0\u1edbng chung l\u00e0 b\u00e1n th\u00e1o, th\u1ecb tr\u01b0\u1eddng v\u1eabn ghi nh\u1eadn nh\u1eefng d\u00f2ng v\u1ed1n ng\u01b0\u1ee3c chi\u1ec1u t\u1eeb c\u00e1c qu\u1ed1c gia nh\u01b0 Anh, khi Ch\u00ednh ph\u1ee7 n\u01b0\u1edbc n\u00e0y t\u0103ng th\u00eam l\u01b0\u1ee3ng n\u1eafm gi\u1eef. S\u1ef1 ph\u00e2n h\u00f3a n\u00e0y cho th\u1ea5y kh\u00f4ng ph\u1ea3i m\u1ecdi ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u0111\u1ec1u ch\u1ecbu \u00e1p l\u1ef1c thanh kho\u1ea3n gi\u1ed1ng nhau. \u0110\u1ed1i v\u1edbi c\u00e1c doanh nghi\u1ec7p Vi\u1ec7t Nam, \u0111\u1eb7c bi\u1ec7t l\u00e0 nh\u1eefng \u0111\u01a1n v\u1ecb \u0111ang t\u00ecm c\u00e1ch kh\u01a1i th\u00f4ng ngu\u1ed3n v\u1ed1n t\u1ef7 \u0111\u00f4 cho kh\u1ed1i doanh nghi\u1ec7p nh\u00e0 n\u01b0\u1edbc ni\u00eam y\u1ebft tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n<\/a>, nh\u1eefng bi\u1ebfn \u0111\u1ed9ng v\u0129 m\u00f4 n\u00e0y l\u00e0 l\u1eddi nh\u1eafc nh\u1edf v\u1ec1 t\u1ea7m quan tr\u1ecdng c\u1ee7a vi\u1ec7c qu\u1ea3n tr\u1ecb r\u1ee7i ro d\u00f2ng v\u1ed1n trong m\u1ed9t th\u1ebf gi\u1edbi \u0111ang c\u00f3 nhi\u1ec1u s\u1ef1 chuy\u1ec3n d\u1ecbch v\u1ec1 c\u00e1c k\u00eanh \u0111\u1ea7u t\u01b0 thay th\u1ebf.<\/p>\n

T\u00e1c \u0111\u1ed9ng lan t\u1ecfa \u0111\u1ebfn s\u1ef1 \u1ed5n \u0111\u1ecbnh c\u1ee7a th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh<\/h2>\n

Nh\u00ecn s\u00e2u v\u00e0o b\u1ea3n ch\u1ea5t, c\u00e1c nh\u00e0 ho\u1ea1ch \u0111\u1ecbnh ch\u00ednh s\u00e1ch t\u1ea1i M\u1ef9 \u0111ang b\u00e0y t\u1ecf s\u1ef1 quan ng\u1ea1i khi ch\u1ee9ng ki\u1ebfn c\u00e1c \u0111\u1ed3ng minh, \u0111\u1eb7c bi\u1ec7t l\u00e0 Nh\u1eadt B\u1ea3n, ph\u1ea3i li\u00ean t\u1ee5c b\u00e1n tr\u00e1i phi\u1ebfu \u0111\u1ec3 b\u1ea3o v\u1ec7 \u0111\u1ed3ng n\u1ed9i t\u1ec7. Thay v\u00ec ch\u1ecdn ph\u01b0\u01a1ng \u00e1n b\u00e1n th\u00e1o, Washington \u01b0u ti\u00ean c\u00e1c th\u1ecfa thu\u1eadn song ph\u01b0\u01a1ng v\u1ec1 kho\u00e1ng s\u1ea3n v\u00e0 c\u00f4ng ngh\u1ec7 nh\u01b0 nh\u1eefng gi\u1ea3i ph\u00e1p thay th\u1ebf. S\u1ef1 h\u1ee3p t\u00e1c qu\u1ed1c t\u1ebf, nh\u01b0 c\u00e1c m\u00f4 h\u00ecnh h\u1ee3p t\u00e1c \u0111\u1ea7u t\u01b0 Vi\u1ec7t Nh\u1eadt gi\u1eefa SSIAM, CCIX v\u00e0 Daiwa<\/a>, cho th\u1ea5y c\u00e1ch ti\u1ebfp c\u1eadn \u0111a ph\u01b0\u01a1ng \u0111ang tr\u1edf th\u00e0nh xu h\u01b0\u1edbng \u0111\u1ec3 gi\u1ea3m b\u1edbt \u00e1p l\u1ef1c tr\u1ef1c ti\u1ebfp l\u00ean d\u1ef1 tr\u1eef ngo\u1ea1i h\u1ed1i trong th\u1eddi \u0111i\u1ec3m th\u1ecb tr\u01b0\u1eddng to\u00e0n c\u1ea7u \u0111\u1ea7y r\u1eaby b\u1ea5t \u0111\u1ecbnh.<\/p>\n

Khi nh\u00ecn v\u00e0o b\u1ee9c tranh r\u1ed9ng l\u1edbn h\u01a1n, kh\u00f4ng th\u1ec3 kh\u00f4ng nh\u1eafc \u0111\u1ebfn t\u00e2m l\u00fd th\u1eadn tr\u1ecdng bao tr\u00f9m l\u00ean c\u00e1c nh\u00f3m t\u00e0i s\u1ea3n, ngay c\u1ea3 v\u1edbi c\u1ed5 phi\u1ebfu cao su k\u1ef3 v\u1ecdng tr\u1edf th\u00e0nh \u0111i\u1ec3m s\u00e1ng tr\u00ean th\u1ecb tr\u01b0\u1eddng<\/a>, n\u01a1i d\u00f2ng ti\u1ec1n \u0111ang t\u00ecm ki\u1ebfm nh\u1eefng b\u1ebfn \u0111\u1ed7 an to\u00e0n h\u01a1n. D\u1eef li\u1ec7u c\u00f4ng b\u1ed1 trong nh\u1eefng th\u00e1ng t\u1edbi s\u1ebd l\u00e0 th\u01b0\u1edbc \u0111o ch\u00ednh x\u00e1c nh\u1ea5t cho th\u1ea5y c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng s\u1eb5n s\u00e0ng \u0111i xa \u0111\u1ebfn \u0111\u00e2u trong vi\u1ec7c t\u00e1i c\u01a1 c\u1ea5u danh m\u1ee5c, m\u1ed9t \u0111\u1ed9ng th\u00e1i mang t\u00ednh chi\u1ebfn thu\u1eadt nh\u1eb1m b\u1ea3o to\u00e0n gi\u00e1 tr\u1ecb tr\u01b0\u1edbc nh\u1eefng c\u00fa s\u1ed1c \u0111\u1ecba ch\u00ednh tr\u1ecb ch\u01b0a c\u00f3 h\u1ed3i k\u1ebft.<\/p>\n

B\u00e0i vi\u1ebft \u0111\u00e3 \u0111\u01b0\u1ee3c bi\u00ean t\u1eadp l\u1ea1i t\u1eeb ngu\u1ed3n: vneconomy.vn<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

C\u00e1c ch\u00ednh ph\u1ee7 n\u01b0\u1edbc ngo\u00e0i b\u00e1n m\u1ea1nh tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 trong th\u00e1ng 3, t\u1ea1o n\u00ean m\u1ed9t \u0111\u1ee3t s\u00f3ng rung l\u1eafc tr\u00ean th\u1ecb tr\u01b0\u1eddng n\u1ee3 to\u00e0n c\u1ea7u. \u0110\u00e1ng ch\u00fa \u00fd, d\u1eef li\u1ec7u t\u1eeb B\u1ed9 T\u00e0i ch\u00ednh M\u1ef9 cho th\u1ea5y s\u1ef1 r\u00fat lui quy m\u00f4 l\u1edbn t\u1eeb c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, trong b\u1ed1i c\u1ea3nh […]<\/p>\n","protected":false},"author":1,"featured_media":15660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[44],"tags":[],"class_list":["post-15662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chung-khoan-viet-nam"],"_links":{"self":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/15662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/comments?post=15662"}],"version-history":[{"count":0,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/posts\/15662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media\/15660"}],"wp:attachment":[{"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/media?parent=15662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/categories?post=15662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taichinhphowall.com\/index.php\/wp-json\/wp\/v2\/tags?post=15662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}