Japan Racing China To Become Top Foreign Holder of US Debt

  Japan is once again closing the gap between it and China as the world’s largest holder of US debt. Japan has increased its holdings up to $1.096 trillion this week moving closer to China’s holdings of $1.179 trillion.  Despite the February increase China’s total level of US debt holdings has fallen since record 2011 numbers. The news was reported by the Wall Street Journal’s Matt Phillips earlier today. Japan increased its holdings by $13 billion in February while China’s increase measured $14.3 billion. Despite the increased level of US debt in the portfolios of the Asian countries the largest…