China, the biggest foreign creditor of the United States, has waded into the American budget crisis, warning Congress it must resolve the political impasse over the debt ceiling without further delay.
In September 2008 China eclipsed Japan to become the biggest single foreign creditor of the United States federal government.
The US administration estimates that the China government holds at least $1.3 trillion (£830 billion) of its bonds. The total could be higher because Beijing is known to hold American debt through intermediaries. And, in total, the Beijing authorities have $3.5 trillion of dollar denominated assets, which would also be hit hard in the event of a default by the world’s largest economy.
it really doesn't do to piss off your bank manager you know.
http://www.independent.co.uk/news/world ... 64935.html