Hopeful for deal on US debt

0 Comment(s)Print E-mail Agencies via Shanghai Daily, July 26, 2011
Adjust font size:

During a televised address at the White House in Washington, D.C., U.S., U.S. President Barack Obama warns that the nation's burgeoning debt threatens to do "serious" damage to the economy and that Congress must compromise to address future deficitson, Monday, July 25, 2011. [Photo/Agencies]


China should not worry about stalled United States talks over the debt limit, an adviser to the People's Bank of China said on Monday, predicting that politicians will ultimately reach a deal to avert a crisis.

Xia Bin, a member of the central bank's monetary policy committee, played down near-term risks to China's economy since Washington has little choice but to continue pursuing loose monetary policy in a bid to spur the world's biggest economy.

"Don't worry too much about it. The United States will have to issue more debt and issue more currency," Xia said, adding that the debt talks have gained too much media attention as US politicians try to maneuver on the debt issue to score strategic points before the next presidential election in November 2012.

"They won't betray the national interest. They are now playing with politics," Xia said.

"They will definitely reach a compromise," he said.

As a central bank adviser, Xia is an influential economist but is not directly involved in policymaking.

Prospects of a budget breakthrough faded as lawmakers missed a self-imposed deadline to produce a deal by the time Asian markets opened for the new week.

Moody's, Standard & Poor's and Fitch have said they will downgrade the US credit rating if failure to raise its US$14.3 trillion debt ceiling leaves the Treasury without cash to service its debt obligations in August.

Xia reiterated his earlier views that China should speed up diversification of its rapidly accumulating foreign exchange reserves away from dollar assets to hedge against risks from what he predicted would be a long-term decline for the US currency.

China's reserves, the world's largest, swelled by US$152.8 billion in the second quarter to a record US$3.2 trillion, driven by capital inflows and its large trade surplus.

Chinese officials have pledged to diversify the huge reserves - as much as 70 percent of which are now in US dollar assets, according to analyst estimates.

Separately, Zhu Baoliang, chief economist at the State Information Center, a top government think-tank, said he also expected the US debt impasse to be temporary.

"I think they will reach a compromise. The possibility of a debt default in the United States is not big," he said.

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 国产精品入口麻豆高清在线| 希崎杰西卡一二三区中文字幕| 亚洲另类精品xxxx人妖| 白浆视频在线观看| 噜噜影院无毒不卡| 视频一本大道香蕉久在线播放| 国产无套粉嫩白浆在线观看| 2021国产麻豆剧传媒剧情最新| 大学生情侣在线| bt天堂网www天堂在线观看| 久久99精品久久久久久噜噜| 岛国免费v片在线播放| 亚洲av之男人的天堂| 欧美日韩一区二区三区自拍| 亚色九九九全国免费视频| 精品人人妻人人澡人人爽人人 | 有坂深雪初尝黑人在线观看| 亚洲国产精品综合久久网络| 正在播放国产精品| 亚洲美女黄视频| 狠狠色先锋资源网| 俺去啦在线观看| 男女一进一出猛进式抽搐视频| 免费精品国产自产拍观看| 综合人妻久久一区二区精品| 四虎影视色费永久在线观看| 色噜噜狠狠狠综合曰曰曰| 国产乱码一二三区精品| 被黑人侵犯若妻中文字幕| 国产午夜无码视频免费网站| 麻豆久久婷婷综合五月国产| 国产成人无码网站| 好吊妞视频这里只有精品| 国产欧美日韩综合精品一区二区| 中文字幕免费在线看线人| 国产精品久久久久无码av| 爽爽爽爽爽爽爽成人免费观看| 国产精品国产三级国产普通话| 2021光根影院理论片| 国产精品日本一区二区在线看| 4480yy私人影院亚洲|