News Column

China Says Clock Is Ticking on Debt Ceiling

October 7, 2013

Cheryl K. Chumley, The Washington Times

Oct. 07--As if competing interests on Capitol Hill weren't convoluting the government shutdown dilemma and discussion enough, now comes China with somewhat pesky words of wisdom for the White House: Hurry up and solve this.

The "clock is ticking," Chinese Vice Finance Minister Zhu Guangyao said to the BBC. And China, the United States' largest creditor, is "naturally concerned about developments in the U.S. fiscal cliff. The executive branch of the U.S. government has to take decisive and credible steps to avoid a default on its Treasury bonds."

He also added, somewhat speaking to the obvious: "It is important for the U.S. economy as well as the global economy."

Mr. Zhu then spoke of 2011, when the United States' credit rating was downgraded slightly.

"We hope the United States fully understands the lessons of history," he said in the BBC report.

The Treasury Department has given a deadline of Oct. 17 to reach an agreement on the debt ceiling or else face risk of default.


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Original headline: BRIEF: China lectures Obama on debt ceiling: 'Clock is ticking'

Source: (c)2013 The Washington Times (Washington, DC)

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