China Should Reduce US Debt Holdings 'Orderly', Says Former Central Bank Adviser
• China should reduce its holdings of US Treasuries in an "orderly" way, says former central bank adviser Yu Yongding • This would help China improve security of its foreign exchange reserves, now at $3.17 trillion • China held $778 billion in US Treasuries as of September, about 50% of reserves by some estimates • Yu warned of growing risks in US debt crisis and weaponization of dollar in trade • China also needs to maintain trade balance by boosting imports and domestic consumption, Yu said