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November 13, 2006

China Has $1 Trillion in US Dollar Reserves

posted by MR WAVETHEORY at 11/13/2006 02:11:00 AM
Soldiers in front of the Forbidden City in Beijing
Here's a fun fact:

China said its foreign exchange reserves reached $1 trillion for the first time. About 70% of these reserves are currently invested in dollar denominated debt.

To put that into perspective, the US national debt is $8 trillion. That means China owns about 10% of US national debt outstanding!

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