Quantcast
Published On: Mon, Oct 7th, 2013

China to US: don’t default on Treasury Bonds, it’s important for the global economy

The US government shutdown rolls on and Monday the Chinese authorities spoke out, saying the “clock is ticking,” referring to the October 17 deadline to increase the nation’s debt limit or risk default.

donkeyhotey  donkeyhotey.wordpress.com

donkeyhotey donkeyhotey.wordpress.com

China, the United States’ largest creditor, is “naturally concerned about developments in the U.S. fiscal cliff,” vice finance minister Zhu Guangyao told the BBC.

“The executive branch of the U.S. government has to take decisive and credible steps to avoid a default on its Treasury bonds,” he said, referring to President Obama.

“It is important for the U.S. economy as well as the global economy.”

“We hope the United States fully understands the lessons of history,” Mr. Zhu said, referring to a similar deadlock in 2011 that led to a downgrade of the U.S. “AAA” credit rating.

The White House signaled on Monday that it would be open to a short-term hike in the nation’s borrowing authority as the United States moved a step closer to its first-ever default and a partial government shutdown entered its second week.

Gene Sperling, a senior Obama economic adviser, was pressed on whether he would rule out a two- or three-week extension on increasing the nation’s $16.7 trillion debt limit. Treasury Secretary Jack Lew has warned that on Oct. 17, he exhausts the bookkeeping maneuvers he has been using to keep borrowing.

“There’s no question that the longer the debt limit is extended, the greater economic certainty there will be in our economy which would be better for jobs, growth and investment,” Sperling told a breakfast sponsored by the newspaper Politico. “That said, it is the responsibility of Congress to decide how long and how often they want to vote on doing that.”

On the DISPATCH: Headlines  Local  Opinion

Subscribe to Weekly Newsletter

* indicates required
/ ( mm / dd ) [ALL INFO CONFIDENTIAL]

About the Author

- Writer and Co-Founder of The Global Dispatch, Brandon has been covering news, offering commentary for years, beginning professionally in 2003 on Crazed Fanboy before expanding into other blogs and sites. Appearing on several radio shows, Brandon has hosted Dispatch Radio, written his first novel (The Rise of the Templar) and completed the three years Global University program in Ministerial Studies to be a pastor. To Contact Brandon email [email protected] ATTN: BRANDON

Tags
Displaying 3 Comments
Have Your Say
  1. Technology In The Healthcare Field Still Struggling - The Global Dispatch says:

    […] are few markets in the global economy that rely more on technological advances than the medical industry. That is why it is always a bit […]

  2. China to US: don’t default on Treasury Bonds, it’s important for the global … | Ezymagazines says:

    […] […]

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Sign up for our Weekly Newsletter



Recent Posts

A Beginner’s Guide to Recovering from Addiction

August 4, 2022, Comments Off on A Beginner’s Guide to Recovering from Addiction

Four Steps to Improving Your Skills as a Banjo Player

August 3, 2022, Comments Off on Four Steps to Improving Your Skills as a Banjo Player

The Rise Of South Korea’s Medical Tourism

August 2, 2022, Comments Off on The Rise Of South Korea’s Medical Tourism

5 Super Foods Health Professionals Like Dr. Ryan Shelton of Zenith Labs Can Stand Behind

August 2, 2022, Comments Off on 5 Super Foods Health Professionals Like Dr. Ryan Shelton of Zenith Labs Can Stand Behind

How to Take Your Healthcare Career in a New Direction

July 27, 2022, Comments Off on How to Take Your Healthcare Career in a New Direction

How To Take Advantage Of The Bear Market With A Gold IRA

July 20, 2022, Comments Off on How To Take Advantage Of The Bear Market With A Gold IRA

How to Inspire Productivity in a Small-Scale Company

July 20, 2022, Comments Off on How to Inspire Productivity in a Small-Scale Company

6 Types of Vaccines and How They Work

July 19, 2022, Comments Off on 6 Types of Vaccines and How They Work

Categories

Archives

At the Movies

Pin It