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economic model.
Amidst domestic political wrangling over the country’s debt ceiling, Clinton paid a whirlwind visit to China, visiting Hong Kong and neighbouring Shenzhen yesterday.
World financial markets are closely watching the deadlocked debt debate on Capitol Hill.
As the largest foreign holder of US debt, China is paying particularly close attention.
Speaking in Hong Kong to business leaders from the region, US Secretary of State Hillary Clinton sought to reassure Asian investors.
“As I have travelled around the region, a lot of people have asked me how the United States is going to resolve our debt ceiling challenge.
“Well, let me assure you, we understand the stakes. We understand how important this is to us, and how important it is to you.
“We in the United States are in the middle of a necessary transition.
“We must save more and spend less, and we must not only save more and spend less, we must borrow less as well.” – Xinhuanet.
Online Reporter