China has reduced its holdings of US debt to their lowest level in a year.
Posted by seumasach on November 19, 2011
Britain continues to provide sterling service to the motherland by selflessly purchasing potentially worthless US government bonds. Meanwhile China goes cold on holding more worthless paper. With the “supercommittee” certain to fail the temporary respite provided by the great euroscare looks set to end and reality will kick in for the superbankrupt US economy.
20th October, 2011
China has reduced its holdings of US debt to their lowest level in a year.
China sold $US36.5 billion in US Treasuries or bonds to cut its holding to $US1137 billion in August, according to data from the US Treasury department.
In August, Standard & Poor’s cut the credit rating for the United States to AA+ from AAA over concerns about budget deficits.
China is the largest foreign buyer of US government debt. Hong Kong, Taiwan and Singapore also reduced their holdings of US Treasuries in August.
However, the BBC reports overall demand for US Treasuries increased in August amid rising global economic uncertainty.
Britain and Switzerland increased their holdings by almost $US40 billion each, and Japan increased its investment by $US21.8 billion to $936.8 billion.
In These New Times 
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