China cuts US Treasury holdings to 18-year low in August as American debt fears mount

China has further reduced its holdings of US Treasuries to an 18-year low in August, as it continued to diversify its foreign exchange reserves amid rising geopolitical tensions and concerns over Washington’s fiscal outlook. China’s holdings fell to US$590.7 billion in August, down US$27.3 billion from US$618 billion in July, data released by the US Treasury Department showed on Friday. That marked the lowest total recorded since August 2008, when its holdings tumbled to US$573.7 billion,...