China gets rid of US bonds to its minimum in 8 months
China is minimizing the volume of its investments in US bonds, amid trade tensions between the two economic powers.
According to data recently published by the US Treasury Department, the possession of US Treasury bonds by China experienced a large drop in September, reaching levels not seen since January.
According to statistics, China – the largest foreign holder of US foreign debt – cut its share by almost 14 billion dollars. The Asian giant’s holdings fell to 1.15 trillion dollars from almost 1.17 trillion in August.
Washington has accelerated the issuance of Treasury bonds to avoid a possible growth of the federal deficit due to the massive tax cuts pushed by US President Donald Trump, as well as the federal spending agreement approved by the US government in February.
The Trump Administration, immersed in serious tensions with China, has repeatedly accused the Asian giant of spying trade secrets and stealing intellectual property from US companies.
With info from HispanTV
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