CNS News is reporting today:
Chinese holdings of U.S. Treasury securities are 11.5 percent below their peak level which was attained in November 2013, according to data published by the U.S. Treasury.
U.S. government debt held by entities in the People’s Republic of China peaked at $1,316,700,000,000 in November 2013, according to the Treasury. As of August 2018, according to the latest date released by the Treasury this month, China held $1,165,100,000,000 in U.S. Treasury.
That is a drop of $151,600,000,000 from the November 2013 peak.
We are still carrying way too much national debt, and that will be a more serious problem as the federal reserve raises interest rates. However, although China is holding less of our debt, it is still the the top foreign holder of U.S. Treasury securities.
The article concludes:
While China remains the top foreign owner of U.S. government debt—despite its declining holdings—the Federal Reserve still owns far more. As of the end of November, according to the Federal Reserve, it owned $2,324,589,000,000 in U.S. Treasury securities.
China’s $1,165,100,000,000 in U.S. Treasury securities was only 50.1 percent of the Fed’s holdings.
It’s time to cut government spending and get out of debt!