United States owes China $1.1 trillionStaff Writer | August 16, 2017
China has once again become the United States' largest creditor, Treasury Department figures indicate.
Relations China largest U.S. creditor with $1.1 trillion owed
The policy means the United States currently owes China more money than any other country.
Japan held that position for the past eight months but sold $21 billion of its U.S. treasury bonds in June.
The change in policy comes as China exerts new controls on money leaving the country. The yuan has increased 4 percent in value since the start of this year.
Before Japan took over the top spot, the Treasury Department ranked China as its biggest foreign creditor for the majority of the past nine years.
Beijing's readiness to buy the securities, in essence loaning money to the United States, has raised concerns about potential Chinese leverage. ■