China Doesn’t OWN the USTuesday, March 27, 2012 8:33
Maybe it’s the 2012 election cycle, maybe it’s the lingering effects of the Great Recession, or need to stop reading the comments of popular blogs, but I am beginning to see a lot more comments about how “China owns the US”, and that firms and politicians are responsible for doing something about it
Comments (and commentary) that are not only false, but are just plain ignorant of the facts
As of January 2011, foreigners owned $4.45 trillion of U.S. debt, or approximately 47% of the debt held by the public of $9.49 trillion and 32% of the total debt of $14.1 trillion. The largest holders were the central banks of China, Japan, the United Kingdom and Brazil. The share held by foreign governments has grown over time, rising from 13% of the public debt in 1988 to 25% in 2007.
As of May 2011 the largest single holder of US government debt was China, with 26 percent of all foreign-held US Treasury securities (8% of total US public debt). China’s holdings of government debt, as a percentage of all foreign-held government debt, have decreased a bit between 2010 and 2011, but are up significantly since 2000 (when China held just 6 percent of all foreign-held U.S. Treasury securities)
8%… not exactly ownership… and in 2017, when the surplus of Social security is expected to turn into a deficit, one would think that politicians would begin focusing on that instead