Via Scoop.it – Countdown to Financial Armageddon
China divested $36.5 billion or 3.1 per cent of its holding in the US treasuries in August, its biggest sell-off of dollar assets since 2000. The move came as a surprise as China had bought over bonds worth $8 billion weeks before that. Downgrade of US credit ratings by Standards & Poor’s, in early August, had created a major crisis of confidence over US treasuries all over the world.
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