OTHER NEWS - July 1, 1993

Japan Becomes Largest U.S. Creditor: Japanese investors surpassed the British last year as the largest owners of American assets, helping to sink the United States deeper into the status of world’s biggest debtor, the government said. Direct Japanese holdings in the United States rose 4.1% to $96.7 billion, while British investment fell 5.6% to $94.7 billion. Japanese holdings exceeded British holdings for the first time. Meanwhile, Dutch investment increased 3.3% to $61.3 billion, solidifying the Netherlands’ place as the third-largest holder of direct assets in the United States.