Tag: Foreign reserves

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Beijing Urges U.S. to Avoid Default

As the U.S. government begins its second week on shutdown, Beijing has urged Washington to avoid a debt crisis and protect Chinese investments. Reuters reports: China, the U.S. government’s largest creditor, is “naturally concerned about developments in the U.S. fiscal cliff”, Vice Finance Minister Zhu Guangyao said in the Chinese government’s first public response to the Oct 17 deadline in the United States for raising the debt ceiling. “The