Part 5/9:
On the international front, foreign entities hold approximately $8.5 trillion of U.S. debt, representing just under 30% of the debt held by the public—a decline from nearly 50% in 2011. Major holders include Japan and China, with China’s holdings declining significantly over the past decade, while Japan’s holdings have remained relatively stable. Other nations, particularly in the West, have increased their investments, but overall foreign demand for U.S. debt has waned amid global geopolitical shifts and declining trust in U.S. fiscal management.