China's Treasury holdings extend drop amid trade war escalation


By Sarah McGregor and Katherine Gdreifeld
Bloomberg News
Tuesday, July 16, 2019

China's holdings of U.S. Treasuries dipped in May to the lowest in two years amid an escalation of the trade war between the world's two largest economies.

The Asian nation's pile of notes, bills, and bonds fell by $2.8 billion to $1.11 trillion, according to Treasury Department data released Tuesday in Washington. It was the third straight month of declines and left China's holdings the smallest since May 2017.

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China remained the U.S.'s biggest foreign creditor. Japan was next, with $1.1 trillion, up by $37 billion from a month earlier, which was the biggest gain since 2013. The $9.2 billion gap between the two nations' holdings was also the smallest since Japan was last the largest U.S. foreign creditor two years ago. ...

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