Official data show China is dumping more U.S. Treasury debt. But it may actually be a stealth buyer, with a big stash suspiciously piling up in Canada
China was once the top holder of U.S. Treasuries but has been shedding its massive stockpile for years, fueling fears of de-dollarization. But official data may not fully capture Beijing’s actual portfolio. The decline began in earnest around 2021, but