Japan on course to replace China as top US creditor

China is poised to lose its place as the United States' biggest creditor for the first time since the height of the financial crisis, blunting one of Mitt Romney's favoured attacks in the presidential campaign.

Chinese holdings of treasuries rose 0.15 per cent this year to US$1.15 trillion at the end of August, the latest government data shows.

Japan raised its stake by 6 per cent to US$1.12 trillion, on pace to top the list of foreign creditors by next month.

via Business feed http://www.scmp.com/business/china-business/article/1062787/japan-course-replace-china-top-us-creditor