China has $800 billion on U.S. Treasuries

The Chinese government sponsored newspaper, China Daily, reports China holds $800 billion in U.S. Treasury bonds.

Leading economists have urged the United States to use concrete measures instead of empty words to ward off possible losses in China's holdings of US treasury bonds, which have already surpassed $800 billion.

The call comes amid widespread concern that US countermeasures to battle the financial crisis are creating another credit bubble and failing to regulate financial markets.

"So far the US government and the Federal Reserve have failed to provide China with any details of how its countermeasures against the financial crisis will not lead to serious capital losses to China's holding of its treasury bonds and foreign reserves," Yu Yongding, a renowned think tank economist with Chinese Academy of Social Sciences, told China Daily.

They are clearly pissed. Well, China, if you'd stop taking our jobs, maybe this wouldn't be such a mess! Right now China appears to be locked into that entire strategy of taking our jobs, working and production for next to nothing and selling us the goods which we buy on credit cards....
obviously beyond out of balance since China is now 83% of the United States non-oil trade deficit.

Check out China's estimate of the U.S. "toxic asset" market:

Lou also urged the US to take courage to root out the causes of financial crisis and step up immediate measures to mange its $4 trillion in toxic assets in the banks.

and mentions basically how U.S. financial leaders talk a good game but aren't doing much.

I guess it helps to read the press around the globe.

Chinamerica is right.

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How so?

Can you give some insight into how 800 billion could be lost on treasuries?

I must be missing something, I can only think of depreciation of the dollar.

I was under the impression that China held around 2 trillion in US treasuries etc. Surely they must be calculating from some other number.

my bad! holds $800B, not lost!

Sorry! I put this up last night and realized the major mistake this morning, which is now corrected. China has not lost $800 Billion dollars which is their entire holdings of U.S. Treasuries.

China is worried about major losses due to dollar devaluation and an increase in interest rates and obviously so, considering it's holdings!

My apologies again, I know people expect us to have a certain standard of well cited, credible posts and I just screwed the pooch on that one!

The sentence in the original

The sentence in the original is a bit ambigous--ohh, the dangers of a the dangling modifier!

yup and at 2am....

not a good time to hit that submit button. So sorry, what a really absurd mistake...oh yeah, the entire Chinese treasury holdings went to zero overnight. (what a way to spread crapola!) I woke up, checked out the site and was horrified at what I had done!