Why China and Japan are praying the US won’t default ...Egypt

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Hong Kong CNN — As the clock ticks down toward an unprecedented US debt default, the world’s second- and third-biggest economies are watching in fear. China and Japan are the largest foreign investors in American government debt. Together they own $2 trillion — more than a quarter — of the $7.6 trillion in US Treasury securities held by foreign countries. Beijing started to ramp up buying of US Treasuries in 2000, when the United States effectively endorsed China’s entry into the World Trade Organization, triggering an export boom. That generated vast amounts of dollars for China and it needed a safe place to stash them. US Treasury bonds are widely regarded as one of the safest invest

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Last updated : 26 May 2023 clock 11:05 AM

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Why China and Japan are praying the US won’t default ...Egypt

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