'China cancels America's credit card'

China, wary of the troubled US economy, has 'canceled America's credit card' by cutting down purchases of debt, a US congressman says.

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... data from the Treasury Department shows that investors in China have sharply curtailed their purchases of bonds in January and February.

"It would appear, quietly and with deference and politeness, that China has canceled America's credit card," Kirk told the Committee of 100, a Chinese-American group.