



Since December, 2008, China has been the largest holder of US debt. However, as of October, 2016, this is no longer the case. The RMB has hit an 8-year low and China has been selling off US debt and buying RMB on world markets in order to drive the value back up.





Through October, 2016, China had liquidated $41.3 billion of US debt, which left them holding only $1.12 trillion. In contrast, Japan holds $1.13 trillion (Mullen 2016).





There has been growing concern in the US over the fact that China holds so much debt, as this may give China strategic leverage over the US. This concern over China holding US debt is not shared by US President-elect Trump. Trump believes that China holding US debt gives the US an advantage over China.

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