A U.S. bailout means loans from China, Japan, U.K., Caribbean and oil exporters
China now owns more U.S. public debt than any other nation ? about one out of every 10 debt dollars ? a reflection of its growing global economic influence. Blame wars, bailouts and stimulus plans ? all big-ticket and unbudgeted expenses. With China buying our debt, it is, in effect, boosting the U.S. dollar relative to the yuan, making imports cheaper (and more attractive). The United States has imported five times as much as it has exported to China this year.
Top owners of U.S. public debt (as of Sept. 2008):
China $585 billion
Japan $573 billion
United Kingdom $338.4 billion
Caribbean Banking Centers* $185.3 billion
Oil-Exporting Nations** $182.2 billion
Brazil $141.9 billion
* Includes Bahamas, Bermuda, Cayman Islands, Netherlands Antilles, Panama, British Virgin Islands
** Includes Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, Nigeria
The article you just read is free because dedicated readers and listeners like you chose to support our nonprofit newsroom. Our team works tirelessly to ensure you hear the latest in international, human-centered reporting every weekday. But our work would not be possible without you. We need your help.
Make a gift today to help us reach our $25,000 goal and keep The World going strong. Every gift will get us one step closer.