US will never default, Vice-President Biden

歡迎會員在此言論自由論壇發表任何題材評論文章。題材跨越地域界限, 希望全球各地會員就當地發生的事與物, 踴躍發表你的評論。讓全球每個角落會員都能分享你言而有物、高水平的評論。會員發表的評論文章屬個人意見, 不代表本網站立場。
Post Reply
Posts: 2017
Joined: Fri Aug 06, 2010 1:29 pm

US will never default, Vice-President Biden

Post by samuel »

_54720892_012699324-1.jpg (11.15 KiB) Viewed 4561 times
US will never default, Vice-President Biden

United States Vice-President Joe Biden, who is visiting China, has said the US would never default on its debt.

In a speech on the last day of his visit, he reiterated that China's large holdings of dollar assets were safe.

His trip comes amid mounting tension between the two over America's debt.

Chinese officials have criticised the political row in the US over raising its borrowing ceiling, and expressed concern over the recent downgrade of the country's credit rating.

"You're safe," Mr Biden told university students in the south-western town of Chengdua, in answer to a question about Washington's ability to repay its debt.

"Please understand that no-one cares more about this than we do, since Americans own 87% of all our financial assets."

"We have an overarching interest in protecting the investment, while the United States has never defaulted and never will default."

China is the American government's biggest foreign creditor - holding $1tn (£608bn) of US debt - and has called on the country to do more to reduce its budget deficit.

Earlier this month, the US suffered a historic credit downgrade by rating agency Standard & Poor's.

Analysts say China is clearly worried about its holding, and about criticism at home for having so much of the country's savings in US investments.

In his Sunday's speech to , Mr Biden also called the rise of China as a global power a positive development for the US and the world as a whole.

And in a reference to human rights, he remarked that Beijing should cherish an exchange between citizens, students and their government.

Mr Biden's five-day visit was overshadowed by a brawl at an exhibition basketball game between a US and a Chinese team.
Post Reply