China worried by prospect of US debt default
China, America’s largest lender, fears that US failure to reach a deal could affect the global economy.
Published On 16 Oct 2013
If the US dafaults on its debt, many fear it could have grave consequences for the global economy.
But China, which is US’ biggest trading partner, would be particularly affected as the world’s two largest economies are deeply interconnected.
China is America’s largest lender and holds nearly $3.5 trillion in US dollar assets.
Al Jazeera’s Marga Ortigas reports from Dongguan in southern China.
Source: Al Jazeera