China hopes world has adequate immunity from effects of debt-driven US financial risks

  BEIJING: China has expressed the hope that the United States, as the world’s largest economy, will not attempt to shift its financial risk...

 


BEIJING: China has expressed the hope that the United States, as the world’s largest economy, will not attempt to shift its financial risks onto the international community, Chinese Foreign Ministry Spokesperson Mao Ning said at a news briefing on Tuesday.

"The debt issue is an internal affair of the United States, but given that [the US is] the world’s largest economy, their own situation and political decisions may have critical knock-on effects for the global economy," Mao said, when asked by a TASS reporter to comment on the ongoing political debate in Washington over raising the US debt ceiling.

"Hopefully, the United States will maintain a responsible fiscal and monetary policy and will not shift US risks onto the entire world," she added.

Beijing also hopes that "the United States will refrain from harvesting yields around the globe in order to protect its own interests," the Chinese diplomat said.

The Global Times reported in March that, as of late January, China was the second largest foreign holder of US debt ($843.7 billion), trailing only Japan, which holds $1.104 trillion in US government securities. The publication mentioned that China has been reducing its holdings of US government debt in recent years.

The US government may find itself unable to meet all of its obligations unless Congress agrees to raise the debt ceiling later this month, with technical default otherwise occurring "potentially as early as June 1," US Treasury Secretary Janet Yellen warned on Monday. Unless a bipartisan compromise on the debt ceiling is hammered out on Capitol Hill in time, she has repeatedly warned, the country may default, which would lead to an "economic and financial catastrophe" for the US that would reverberate across the global economy.


-News Feed

COMMENTS


*

Name

AROUND THE GLOBE,3171,business,74,BY READERS,479,FEATURE,289,GLOBE,16,KERALA,13,Movie,327,s,1,SPECIAL STORY,394,TAMILNADU,3,TOP STORY,3892,TRAVEL,8,
ltr
item
Local Glob: China hopes world has adequate immunity from effects of debt-driven US financial risks
China hopes world has adequate immunity from effects of debt-driven US financial risks
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWUMVNykNgbY8WoZeawotQj3-4-z8VYd1UYUtc0wi7yuKMk3TZMmOKY4FLjDJJPHsCzU6wliR5SGJNSrJwXvzvH2qvBCx68ZJv_ssyhqEoyNEs8IS-UzaeyFYLy-_D5n8fhr-oGtkDc1mNBkvziw1DWJTFjVBUSpKg5LZkbf3uU6ng74RvPXZWbptu6g/s320/immunity.jpg
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiWUMVNykNgbY8WoZeawotQj3-4-z8VYd1UYUtc0wi7yuKMk3TZMmOKY4FLjDJJPHsCzU6wliR5SGJNSrJwXvzvH2qvBCx68ZJv_ssyhqEoyNEs8IS-UzaeyFYLy-_D5n8fhr-oGtkDc1mNBkvziw1DWJTFjVBUSpKg5LZkbf3uU6ng74RvPXZWbptu6g/s72-c/immunity.jpg
Local Glob
https://www.localglob.com/2023/05/china-hopes-world-has-adequate-immunity.html
https://www.localglob.com/
http://www.localglob.com/
http://www.localglob.com/2023/05/china-hopes-world-has-adequate-immunity.html
true
8255692317570297677
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy