China bets on a US recovery.

China today has reported its October international capital flows and once more has increased its holdings of US treasury securities by $65.9 billion. It sure is the No 1 holder of American debt. China now holds to $652.9 billion of it and is well ahead of Japan as the top holder of US debt.
It has almost a third of its $2 trillion of foreign exchange reserves into US treasury securities.
That is a huge vote of confidence in a recovery.