China cuts treasury holdings to two-year low amid trade war – Bloomberg
|Bloomberg came out with the news report mentioning that China cuts its US treasury holdings to the lowest in almost two years mainly because of the prolonged trade war between the world’s two largest economies.
The news report quotes the US Treasury Department data released on Monday in Washington while saying that China’s holdings of notes, bills and bonds declined by $7.5 billion in April to $1.11 trillion.
It was further mentioned that previous figures were collected ahead of a full-fledged trade tussle when the talks collapsed and the US President Donald Trump raised tariffs on $200 billion of Chinese goods and announced more increases to come.
Expectations of reasons other than trade war were also marked while saying that China would struggle to find another spot to park its cash.
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