As of the year 2000, China held about 45% of US Treasuries. Now, China owns just over 30% of United States treasuries. China has looked to diversify its portfolio and buy bonds outside of the United States. Since 2007, China’s central bank has began an aggressive policy of loaning money to countries that have been “shunned by others.”
Three countries in particular, Argentina, Venezuela, and Russia have been targets for China’s money lending policies. Recently, global commodity prices have taken a plunge. 
Causing Venezuela, Russia, and Argentina to fall into recessions. These three countries have depended on Chinese credit to stop their currency reserves from shrinking and to prevent defaulting on government bonds. Now it looks like China might not receive repayment for these loans.
China’s development bank aims to dominate the World Bank and the IMF. While the World Bank and the IMF have moved towards more cautious investing strategies, China maintains a risky strategy.They also want to make the Yuan more useful than the US dollar. These two decisions will greatly improve Chinese diplomacy around the globe. Rather than lending money for profit, China hopes that by lending money to countries shunned by the rest of the world, they can build healthy relationships with these ostracized nations. This will make the biggest economy in the world even more powerful when dealing with international affairs.
Source:
“Rich but Rash.” The Economist. The Economist Newspaper, 31 Jan. 2015. Web. 11 Feb. 2015.
I fail to see the logic of building healthy relationships with sick nations. The sick may gain, though in some cases it’s better to face the medicine sooner rather than later. (Not surprisingly, those in power tend to disagree.) Diversification may include countries facing crisis, but my guess is that the dollar amounts involved are not so large, and that portfolio holdings of euro bonds are part of the shift. Did your source note anything on that? Can you find out from other places?