China cuts US Treasury stockpile, dropping to No 3 spot among foreign holders
China cuts US Treasury stockpile, dropping to No 3 spot among foreign holders
Britain takes China’s place as America’s second-biggest overseas creditor as Beijing pushes to diversify foreign exchange reserves.
China cut its stockpile of US Treasuries in March, before its trade war with US President Donald Trump escalated, stepping aside from its position as the No 2 overseas holder.
As foreign holdings rose for a third straight month to an all-time peak of US$9.05 trillion in March, China’s stockpile slid to US$765.4 billion, down US$18.9 billion from the previous month and ending an upswing in holdings in the January-February period, according to data released by the US Department of the Treasury on Friday.
That was before Trump's war
Wonder what the numbers will be next month
lol China is not fucking around. Trump is about to enter the “Find out” phase.
China calling in our debt.
Keep going China.
Who are the top bagholders?
The American taxpayer.
Yep. Most people don't know most of our debt is held by US citizens, which is actually beneficial sometimes. The government gets to spend money now and then they pay these people, with interest, in the future. Ideally they spend that internally, promoting more growth. As long as there's growth it's a positive effect.
However, this post (not the comment above) specifies foreign debt holders. For some reason the media only talks about this, not domestic holders, I guess because it sounds scary.
Well well well, if it isn't the consequences of our own actions