As a major holder of US debt, it can’t like what it sees in the debt ceiling negotiations.
China’s Foreign Ministry said on Thursday that it hoped the U.S. government would take a responsible attitude to protect investor interests, in Beijing’s latest expression of concern about the possibility of Washington briefly defaulting on its debt.
“We hope that the U.S. government adopts responsible policies and measures to guarantee the interests of investors,” ministry spokesman Hong Lei said at a regular news briefing in Beijing, when asked about the Moody’s report.
Given how much money the US pays China every day in coupon payments, it’s hard not to imagine any kind of default not causing a gigantic diplomatic row, in addition to all of the immediate financial meltdown concerns.
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