The depreciation of the dollar is mainly caused by the fiscal deficit and trade deficit of the US government. Because of twin deficits, the US government had to issue a large amount of money, which led to the devaluation of the currency. In addition, the U.S. government has no intention to actively intervene in the foreign exchange market, which has also aggravated the depreciation. The biggest harm is that most of the domestic foreign exchange reserves are dollar assets, and there is a risk of depreciation together. For example, in the past, 1 USD was exchanged for RMB in 7.6 yuan, but now the exchange rate is falling, and 1 USD is exchanged for RMB in 7 yuan. If the United States issued US$/kloc-US$ 0/billion of US Treasury bonds before and China bought them, it would be equivalent to 760 million RMB at that time. What about now? Due to the depreciation of the US dollar, 1 US dollar can only be exchanged for 7 yuan RMB, and 1 billion national debt is now only worth 700 million RMB. For the United States, less money is owed.