More rapid than?
Visiting US Treasury Secretary Henry Paulson said Thursday that US appreciates China's holding of US treasuries and admitted that the yuan appreciation has been "more rapid".
"We appreciate the Chinese investment in all of our securities (including treasuries)," he told Ed Zhang, senior consultant of China Daily, during an exclusive interview with the China Daily website.
China is holding about $490 billion in US treasuries, according to US Treasury figures. Some US politicians have warned that it will be a big danger to the US economic security.
But Paulson said it is not a problem. "We trade $500 billion treasuries a day."And the total US deficit is in the trillions.