TEXT OF STORY
STEVE CHIOTAKIS: The U.S. is more more indebted to China than we thought. The government’s latest tally shows China still owns the most U.S. debt, by far.
From Washington, Marketplace’s Nancy Marshall Genzer reports.
NANCY MARSHALL GENZER: China has a lot of money to invest, because it sells so much to other countries. And one of its top investments has been U.S. treasuries. Recently, it looked like China was going to diversify away from us. But now the Treasury Department puts China’s U.S. holdings at more than a trillion dollars. That sounds like a scary number. But scarier still? China losing interest in our debt.
Erin Ennis of the U.S. China Business council says, the Chinese are buying American because they think we’re a good investment.
ERIN ENNIS: They are buying into the idea that we are going to be able to make the changes necessary to have the economy continue to go on an up trend.
But Ennis says, we didn’t have a lot of competition for China’s money. Nobody’s economy is looking too good right now. We won a beauty contest where no one’s especially pretty.
In Washington, I’m Nancy Marshall Genzer for Marketplace.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.