China is still reducing its holdings of U.S. government debt. According to new data from the Treasury Department, China trimmed its holdings of U.S. Treasury securities by $8.6 billion, totaling $769.6 billion. In total, foreign holdings fell by about $16 billion to $7.565 trillion. Here is a breakdown of what happened in October:
China
Whoops: Joe Biden says China’s Xi Jinping is a ‘dictator’
Following his meeting with Chinese leader Xi Jinping, President Joe Biden told the mainstream media at the APEC Summit in San Francisco, California, that he is a “dictator.” Yikes. This is the second time in four months that he has done so. The last time he did it, Beijing called it a “provocation.” What will […]
China, Saudi Arabia cut U.S. government debt holdings in June: Treasury
In another signal that China and Saudi Arabia are trying to reduce their exposure to the U.S. economy, the two countries reduced their holdings of Treasury securities. In other words, Beijing and Riyadh decreased their holdings of U.S. government debt in June. According to the Treasury Department, China dumped $11 billion in Treasury securities, down […]
U.S. opposed to China’s export controls on gallium, germanium: Commerce Department
The U.S. Commerce Department says that it is opposed to the Chinese government’s decision to slap export controls on two rare earth metals: gallium and germanium. Commerce Department officials issued a statement, noting that the U.S. government will engage with allies and partners to touch upon Beijing’s export controls. Treasury Secretary Janet Yellen has her […]
Tit for tat? US retaliates to Chinese export ban by proposing restricted access to Amazon, Microsoft cloud services
Is the U.S. government retaliating against China’s export ban on rare earth metals? According to The Wall Street Journal, the White House is considering a plan to restrict China’s access to cloud-computing services offered by Amazon and Microsoft. The newspaper reported that U.S. firms would need to obtain government permission before letting Chinese customers access […]