$114,500,000,000 in US Treasuries Dumped By China and New BRICS Member Saudi Arabia ~ September 3, 2023

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BRICS members China and Saudi Arabia are unloading hundreds of billions of dollars worth of US treasuries.

New numbers from the Treasury Department show that China trimmed its US treasury holdings from $938.8 billion in June 2022 to $835.4 billion in June 2023 – a decrease of about $103.4 billion in just 12 months.

Even though China has been dumping US treasuries over the past year, the country is still one of the largest creditors of the United States, second to Japan’s holdings of $1.105 trillion.

As for new BRICS member Saudi Arabia, the Middle Eastern country reduced its holdings of US debt by $11.1 billion over the same period from $119.2 billion to $108.1 billion.

The decline in the US bond holdings of the two BRICS nations are a fresh sign of opposition to the US dollar’s hegemony.