Japan Ties China As America's Largest Creditor As Foreigners Dump A Record Amount Of Treasurys

Why have Japan, Korea, and China purchased the U.S. treasury (i.e., debt) in the first place?  I have touched upon this issue several times.  Their economic miracle was the delusion in some sense.

From Zero Hedge:

Moments ago the January TIC data update was released, and while China continued selling US paper, liquidating another $5.2 billion in January and bringing its new total to the lowest since January 2013, Japan - yes that Japan whose central bank is now moentizing 100% of its own debt issuance because the country is now effectively insolvent and absent constant monetization of its debt it is finished - bought $8 billion in US debt, in the process trying China as America's largest foreign creditor for the first time in history, with both nations holdings $1.239 trillion in US TSYs.



http://www.zerohedge.com/news/2015-03-16/japan-ties-china-americas-largest-creditor-foreigners-dump-record-amount-treasurys