China cuts its US debt holding by $36.5 billion - the biggest sell off since 2000 | Countdown to Financial Armageddon | Scoop.it

China divested $36.5 billion or 3.1 per cent of its holding in the US treasuries in August, its biggest sell-off of dollar assets since 2000.

The move came as a surprise as China had bought over bonds worth $8 billion weeks before that.

Downgrade of US credit ratings by Standards & Poor's, in early August, had created a major crisis of confidence over US treasuries all over the world.