Experts eye cutback in China's massive stock of T-bills

More Chinese economists are beginning to sound the alarm over the risk to China of holding more than $1 trillion in US Treasury bills, as efforts by the US Congress to raise the debt limit remain elusive.

Although the top Democrat and Republican in the US Senate were said to be close to an agreement to raise the limit, the measure's fate remained unclear in the fractured Republican-controlled House of Representatives, which twice failed to produce its own plan on Tuesday.