Another China story...
China Credit Card Romney Assails Gives Way to Japan
By Wes Goodman and Daniel Kruger - Oct 16, 2012
Bloomberg.com
China is poised to lose its place as the U.S.’s biggest creditor for the first time since the height of the financial crisis, blunting one of Mitt Romney’s favored attacks in the presidential campaign.
Chinese holdings of Treasuries fell 0.2 percent this year through July to $1.15 trillion, the latest government data show. Japan, a stronger ally of the U.S., raised its stake by 5.6 percent to $1.12 trillion, on pace to top the list of foreign creditors by November. The Treasury Department will release its tally of international capital flows for August today.
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“Whatever deficit we’re running, we’re going to supply a lot of Treasuries and someone’s going to buy them, and if it’s not China it will be someone else.”
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Romney campaign ads mentioning China ran 29,317 times in the 30 days ending Oct. 8, according to New York-based Kantar Media’s CMAG, which tracks political advertising. One called “Stand up to China” alleges that “China is stealing American ideas and technology.”
More: http://www.bloomberg.com/news/2012-10-15/romney-can-invoke-japan-overtaking-china-as-u-s-lender.html
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