Where has the money that came out of the United States gone?

CICC analyzed the issue of capital outflows from the United States, pointing out that investors' trust in the US dollar and US Treasury bonds has declined, leading to a shift of funds towards gold, Bitcoin, and the stock and bond markets in Europe and Japan. Data shows that European stock markets have attracted significant capital inflows, while inflows into US stocks have stagnated, with limited outflows. Capital inflows into the Chinese market have been interrupted, and recently, there have been outflows from US stock, bond, and money market funds. Overall, the scale of capital outflows is not large, the market has temporarily stabilized, but may face pressure in the future