‘Big lender’ China urges US to avoid bankruptcy
As the Government shutdown in the US enters its second week, the country is just 10-days away from default, and the country’s main creditor China has urged Washington to take decisive steps to avoid bankruptcy and ensure safety of Chinese investments. China, the US government's largest foreign creditor, is "naturally concerned about developments in the US fiscal cliff", as Reuters quoted Vice Finance Minister Zhu Guangyao giving the Chinese government's first public response to the Oct 17 US deadline for raising the debt ceiling. China currently holds 22.85 percent of the US $16.7trln debt, which makes it the biggest US creditor.
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