China Warns U.S. About Debt Crisis

 

China Tells US To Avoid Debt Crisis For Sake Of Global Economy -- BBC 

A senior Chinese official has warned that the "clock is ticking" to avoid a US default that could hurt China's interests and the global economy.

China, the US's largest creditor, is "naturally concerned about developments in the US fiscal cliff", vice finance minister Zhu Guangyao said. Washington must agree a deal to raise its borrowing limit by 17 October, or risk being unable to pay its bills.

He asked that "the US earnestly take steps to resolve" the issue.

US Treasury Secretary Jacob Lew has said that unless Congress agrees an increase in the debt ceiling by 17 October, Washington will be left with about $30bn (£18.6bn) in cash to meet its obligations - about half the $60bn-a-day needed.

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More News On China Warning The U.S. On It's Handling Of It's Debt Crisis  

China tells U.S. to take steps to avoid debt crisis -- Reuters
Beijing Urges U.S. to Avoid Default -- Wall Street Journal
China warns US 'clock is ticking' -- CNBC
China to U.S.: 'Clock is ticking' on deal to avoid default -- NBC
China says US has 'responsibility' to resolve debt ceiling row -- The Guardian
China urges U.S. to prevent debt default -- Xinhuanet
China asks US to protect its huge investments -- IBN Live  

Update: The Japanese are now voicing their own concerns on how the U.S. is handling it's debt crisis.