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Thursday
Jul142011

China to US: Raise the Debt Ceiling

Stockbyte/Thinkstock(SHANGHAI) -- China has publicly joined the call for the U.S. to get its financial house in order.

"We hope that the U.S. government adopts responsible policies and measures to guarantee the interests of investors," Hong Lei, a Foreign Ministry spokesman, said Thursday, according to the New York Times. Lei had been asked about a warning from Moody’s that the credit rating agency was prepared to review the U.S. AAA status.

China, a major U.S. creditor, owns more than $1 trillion of U.S. government debt. A Chinese rating agency also warned that it was considering a downgrade of the U.S. government credit rating.

Copyright 2011 ABC News Radio







ABC News Radio