China looks like it's dumping Treasury debt but may actually be stashing it in Canada and Belgium - Fortune
China looks like it's dumping Treasury debt but may actually be stashing it in Canada and Belgium - Fortune
Source: Fortune
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DW NOTE
China's reported Treasury holdings have fallen $300 billion since 2022 while Belgium's and Canada's have mysteriously risen by similar amounts. Either Beijing found the world's most circuitous dumping route, or it's using custodial accounts to mask its position while maintaining the fiction of dollar neutrality. The distinction matters less than the fact that someone still has to buy $1.8 trillion in fresh U.S. deficit issuance this year.