Raphael
SENIOR MEMBER
- Joined
- Mar 1, 2012
- Messages
- 3,287
- Reaction score
- 5
- Country
- Location
China is no longer the biggest holder of US debt - Telegraph
Japan has overtaken China as the largest foreign holder of US debt, the Treasury Department has revealed.
In its latest report, the department said China held $1.2237 trillion of Treasury securities in February, down $15.4bn on January.
Japan's holdings fell $14.2bn to $1.2244 trillion, making it the top foreign holder of US debt for the first time since August 2008.
“With the weakness in the currency and the potential outflows, there’s less need or opportunity for the Chinese to accumulate dollar reserves,” Win Thin, the global head of emerging market strategy at Brown Brothers Harriman & Co, said.
The Treasury Department said total foreign holdings of securities slipped 0.9pc in February to $6.16 trillion, down from a record of $6.22 trillion in January.
US government borrowing has declined sharply with a shrinking budget deficit over the past three years, after expanding rapidly to support the economy in the Great Recession.
The federal deficit fell to $483bn in 2014, its lowest level in six years and below 3pc of economic output for the first time since 2007.
Japan has overtaken China as the largest foreign holder of US debt, the Treasury Department has revealed.
In its latest report, the department said China held $1.2237 trillion of Treasury securities in February, down $15.4bn on January.
Japan's holdings fell $14.2bn to $1.2244 trillion, making it the top foreign holder of US debt for the first time since August 2008.
“With the weakness in the currency and the potential outflows, there’s less need or opportunity for the Chinese to accumulate dollar reserves,” Win Thin, the global head of emerging market strategy at Brown Brothers Harriman & Co, said.
The Treasury Department said total foreign holdings of securities slipped 0.9pc in February to $6.16 trillion, down from a record of $6.22 trillion in January.
US government borrowing has declined sharply with a shrinking budget deficit over the past three years, after expanding rapidly to support the economy in the Great Recession.
The federal deficit fell to $483bn in 2014, its lowest level in six years and below 3pc of economic output for the first time since 2007.
