Last month the Department of the Treasury published a table summarizing the allocation of US Public Debt held by foreign countries. According to the report, foreign debt holdings total a little over $ 3 Trillion, out of $10 Trillion or so in total public debt. Here are the top 20 foreign holders of U.S. Public Debt.
1) China $682 Billion
2) Japan $571 Billion
3) UK $360 Billion
4) "Carribean Banking Centers" $221 Billion
5) "Oil Exporters" $198 Billion
6) Brazil $130 Billion
7) Russia $78 Billion
8) Luxembourg $75 Billion
9) Hong Kong $66 Billion
10) Switerland $63 Billion
11) Norway $59 Billion
12) Taiwan $43 Billion
13) Germany $43 Billion
14) Singapore $37 Billion
15) Ireland $35 Billion
16) Thailand $35 Billion
17) Mexico $35 Billion
18) Turkey $29 Billion
19) Korea $29 Billion
20) Canada $17 Billion
http://www.treas.gov/tic/mfh.txt
Note that, just one year ago, China held only $459 Billion, while Japan held $590 Billion. Since then, the two countries have reversed positions in the rankings.
According to the Census Bureau, our trade deficit with China during 2008 was over $240 Billion. China, of course, has to do something with these excess dollars --- apparently they used some of them to purchase additional U.S. Treasury Securities.
http://www.census.gov/foreign-trade/balance/c5700.html#2008
Does anyone know why Luxembourg, which has a population smaller than Richmond, Virginia, holds more such debt than Germany ? Perhaps the country is a banking center, like the Cayman Islands.
Finally, note that this report comes just as the United States plans to borrow nearly $500 Billion in the first quarter of 2009.
1) China $682 Billion
2) Japan $571 Billion
3) UK $360 Billion
4) "Carribean Banking Centers" $221 Billion
5) "Oil Exporters" $198 Billion
6) Brazil $130 Billion
7) Russia $78 Billion
8) Luxembourg $75 Billion
9) Hong Kong $66 Billion
10) Switerland $63 Billion
11) Norway $59 Billion
12) Taiwan $43 Billion
13) Germany $43 Billion
14) Singapore $37 Billion
15) Ireland $35 Billion
16) Thailand $35 Billion
17) Mexico $35 Billion
18) Turkey $29 Billion
19) Korea $29 Billion
20) Canada $17 Billion
http://www.treas.gov/tic/mfh.txt
Note that, just one year ago, China held only $459 Billion, while Japan held $590 Billion. Since then, the two countries have reversed positions in the rankings.
According to the Census Bureau, our trade deficit with China during 2008 was over $240 Billion. China, of course, has to do something with these excess dollars --- apparently they used some of them to purchase additional U.S. Treasury Securities.
http://www.census.gov/foreign-trade/balance/c5700.html#2008
Does anyone know why Luxembourg, which has a population smaller than Richmond, Virginia, holds more such debt than Germany ? Perhaps the country is a banking center, like the Cayman Islands.
Finally, note that this report comes just as the United States plans to borrow nearly $500 Billion in the first quarter of 2009.
