We’re in a sad state of affairs when some in China are becoming concerned about the U.S. debt. If China pulls back on financing our country (which is essentially what purchasing treasury bills is), who will step up? We obviously can’t rely on fiscal responsibility. What also troubles me is that OPEC is a large US debt holder….OPEC. As though they’re not cleaning up on us already….
April 4 (Reuters) – A call by a senior Chinese official for China to trim its holdings of U.S. debt rattled markets on Tuesday.
Here is a list of the top 10 foreign holders of U.S. Treasury securities, which totalled $2,187.6 billion at the end of January 2006: Country Holdings (In billions of U.S. dollars)
Caribbean Banking Centres** 97.9
Hong Kong 48.3
* Includes Channel Islands and Isle of Man.
** Include Bahamas, Bermuda, Cayman Islands, Netherlands Antilles and Panama.
Source: U.S. Treasury Department (www.treas.gov)