China's foreign reserves

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Ddrak
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China's foreign reserves

Post by Ddrak »

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China's central bank said Saturday that its foreign exchange reserves rose 16 percent year-on-year to $1.9537 trillion by the end of March.

...

Analysts believe China holds up to 70 percent of its foreign reserves in U.S. dollar-denominated assets, including Treasury securities.
So China holds about 1.5 trillion in US debt. Holy crap batman...

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Minute
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Re: China's foreign reserves

Post by Minute »

Might want to brush up on your Chinese, pretty soon we'll be doing tech support for them and they will be bitching about how this lazy ass American is claiming to be in Beijing and clearly is not named Wen Chen! Hail, our new overlords.
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Embar Angylwrath
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Re: China's foreign reserves

Post by Embar Angylwrath »

China is probably more frightened about the US economy than we are. They need us more than we need them. They need us to keep purchasing their cheap-ass goods, so they can build a middle class, raise most of the nation out of poverty, and finance their growth. For the last 30 years or so, they've been doing that mostly on the back of the American dollar.

I Americans aren't buying, the Chinese economy takes a hit.
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