Skip to content
Geo-Graphics

U.S. External Debt

By experts and staff

Published
  • Benn SteilCFR Expert
    Senior Fellow and Director of International Economics
  • Dinah Walker
    Analyst, Geoeconomics

This chart compares the Treasury and Agency holdings of China and Japan. As the chart shows, the amount of debt that the U.S. owes to China has increased sharply this decade and the amount owed to Japan remains high. Will the United States’ continuing need for financing leave it in a weaker position relative to the major holders and purchasers of U.S. debt?

Dyer: China’s Dollar Dilemma

Warnock: Impact of East Asian Reserves Accumulation on U.S. Interest Rates

Dyer: Clinton Treads Carefully during visit to China

Setser: Sovereign Wealth and Sovereign Power

Kessler: Clinton Urges Continued Investment in U.S.