China, Not Japan, Remains Largest Holder of US Treasuries

choi

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Martin Crutsinger, China still biggest foreign buyer of US securities;
Treasury says China retains top spot as biggest foreign holder of US
Treasury securities. Associated Press, Feb. 26, 2010.
http://finance.yahoo.com/news/China-still-biggest-foreign-apf-1050581771.html?x=0&sec=topStories&pos=8&asset=&ccode=
("On Feb. 16, the government reported data that showed China had been
surpassed by Japan. However, the government said in the new report that
those figures did not account for purchases by Chinese investors in such
places as Britain.")

My comment:
(1) The AP report is based on a press release dated that day and titled "
Preliminary data from a survey of foreign portfolio holdings of U.S.
securities at end-June 2009," which stated:

"The U.S. Department of the Treasury today released preliminary data from a
survey of foreign portfolio holdings of U.S. securities at end-June 2009 at
(http://www.treas.gov/tic/fpis.html).  A revised table on Major Foreign Holders of Treasury Securities, where estimates through end-December 2009 are based in part on survey data, is also available at (http://www.treas.gov/tic/ticsec2.html, on line 1 of Part A).  Final survey results, which will include additional detail as well as possible revisions to the preliminary data, will be reported on April 30, 2010.

(2) The quotation from the AP report resolved a discrepancy which an
American economist correctly determined that China bought US Treasuries
abroad (as in London) through private entities (as opposed to purchase by
Beijing's official arms), and which the economist cast in a conspiratorial
light (e.g., China might conceal its holding to make it appear smaller than
reality and cause more dramatic effects if China ever sells it to disrupt US
economy.

P. Parameswaran, China may be hiding US Treasury bonds: experts. AFP, Feb.
25, 2010.
http://news.yahoo.com/s/afp/20100226/pl_afp/useconomyfinancebondschina

(3) VOA Chinese edition immediately reported the testimony of the economist,
as did news media. But VOA has deleted that piece of news, while retaining
the other which was posted a bit later than the deleted one.

This report is kept:
中国手上美国债牌是纸牌还是美国命脉？ VOA Chinese, Feb. 26, 2010.
http://www1.voanews.com/chinese/news/china/China-card-of-US-debt-a-paper-tiger-or-a-real-threat-20100226.html

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