China overtaken by Japan as America's biggest creditor.
China is about to be replaced as America's biggest creditor by Japan:
'China is poised to lose its place as the U.S.â??s biggest creditor for the first time since the height of the financial crisis, blunting one of Mitt Romneyâ??s favored attacks in the presidential campaign.Chinese holdings of Treasuries rose 0.1 percent this year through August to $1.15 trillion, Treasury Department data on international capital flows released today show. Japan, a stronger ally of the U.S., raised its stake by 6 percent to $1.12 trillion, on pace to top the list of foreign creditors by January.
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Getting tough on Japan just doesn't have the same ring to it.