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China's state-controlled media say a last-minute deal to raise the U.S.
debt ceiling has merely postponed deeper problems that threaten the world
economy.In a commentary Tuesday, the People's Daily newspaper said that while
the threat of default has been avoided, America's debt problems are unresolved
and likely to grow more serious. The newspaper is the most important mouthpiece
for China's ruling Communist Party.
The commentary says the American debt burden continues to cast a shadow
over the nation's economic recovery, and increases the risks faced by the rest
of the world economy.People's Daily says that despite the debt concerns, the
dollar remains the world's dominant hard currency and other nation's have no
choice but to accept it. China is America's largest creditor outside the United
States. |
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