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01-20-2011, 01:06 PM #1
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Saving a Doomed Dollar: Plans B, C, D, and E
Saving a Doomed Dollar: Plans B, C, D, and E
Mac Slavo- January 20th, 2011
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Reuters’ Emily Flitter asks in a recent column What is Plan B if China dumps its U.S. debt?
It is worth asking about U.S. officials’ Plan B just in case one day relations take a surprise turn for the worse and Beijing dumps its holdings of U.S. treasuries.
China is officially the United States’ biggest foreign creditor, with roughly $900 billion in Treasury holdings — or over $1 trillion with Hong Kong’s holdings included.
That means it could do severe damage to U.S. debt markets if it suddenly started selling large amounts.
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