Global investors should not be concerned by a report that China is looking to curb its purchases of U.S. bonds, one economist told CNBC.
"First I don't think it's relevant, second I don't think it's going to happen," Daniel Lacalle, chief economist and investment officer at Tressis Gestion, told CNBC Thursday morning.
China holds $1.2 trillion worth of U.S. debt — more than any other country in the world. It overtook Japan in August of last year, which had an eight-month stint as its largest holder. If China stops or even significantly reduces the level of purchases, many warn that the U.S. economy could be affected. But, Lacalle believes there would still be plenty of demand for U.S. debt.