Tags: Jim | Rogers | China | Treasuries

Rogers: China Will Keep Dumping U.S. Treasuries

Thursday, 25 Feb 2010 08:02 AM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
China will continue to sell U.S. Treasuries in the future, says Jim Rogers, co-founder of the Quantum Fund.

China will unload more debt as the “euro scare” continues, he said.

The government reported that appetite for Treasuries declined by the largest amount in December as China reduced its allocation by $34.2 billion to $755.4 billion. Japan made a similar move and lowered its amount by $11.5 billion to $768.8 billion.

“I am surprised China has not dropped more,” Rogers told CNBC.

The United States should be concerned about this change in investments, he said.

“The U.S. should be worried about everyone lightening up – not just China,” Rogers said.

Lawrence Summers, director of the White House National Economic Council, said the paring back is not a concern, CNBC reported.

"The truth is that these numbers fluctuate and that there's a wide range of holders of Treasury debt. ... What's been very clear from the market responses over the last two years is that the United States is seen as a major source of quality and a place people run to when they're uncertain," he said.

Other analysts said the amount of U.S. government debt held by the Chinese is likely to be a larger amount since they also buy anonymously via banks in Switzerland, Britain and other countries, the Associated Press reported.

"We do not believe that the Chinese are dumping Treasuries. What they are doing is diversifying the channels through which they make these purchases so that it is much more difficult for the market to ascertain what they are doing,” said Arthur Kroeber, managing director of GaveKal Dragonomics, a Beijing research firm.

© 2014 Moneynews. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

The Constitution Limits Majority Rule

Thursday, 17 Apr 2014 10:50 AM

In a 2006 interview, Supreme Court Justice Stephen Breyer said the Constitution is "basically about" one word — "democra . . .

Female GOP Candidates Counter 'War on Women'

Monday, 14 Apr 2014 16:58 PM

Robert Griffin, now 90, who rose to be second in the Republican U.S. Senate leadership, was defeated in 1978. Since then . . .

Tax Reform Is Always an Uphill Push

Monday, 07 Apr 2014 09:49 AM

The Sisyphean task of tax reform should be tried only by someone who will not flinch from igniting some highly flammable . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved