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(CNSNews.com) - After a 9.0 earthquake struck off the coast of Japan last March and sent a tsunami crashing into the Fukushima Daiichi nuclear power plant, causing a Japanese national emergency, some worried the Japanese would stop buying U.S. government debt—or even sell off some of what they already owned—thus precipitating a spike in the interest rates on that debt.
In fact, according to data published by the U.S. Treasury Department Japan has done just opposite, buying more U.S. government debt--even as China has started to decrease its holdings of U.S. debt.
Data from the most recent 8 months published by the Treasury indicate that between the last day of June 2011 and the last day of February 2012, entities in Japan increased their holdings of U.S. Treasury securities from $881.6 billion to $1.0959 trillion. At the same time, entities in the People’s Republic of China decreased their holdings of U.S. Treasury securities from $1.307 trillion to $1.1789 trillion.