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China warns on risks of US debt default

2013-10-18 07:46 chinadaily.com.cn Web Editor: qindexing

A debt default by the United States could increase the risks for Chinese enterprises and affect China's trade growth, Ministry of Commerce spokesman Shen Danyang said on Thursday.

Chen was speaking after the US government agreed a deal to end the partial government shutdown and avoid a debt default hours before the deadline to raise the $16.7 trillion limit.

Shen said a US default would slow the global economic recovery, while fluctuations in global financial markets would affect China's foreign direct investment and outward direct investment.

Shen urged Washington to quickly put an end to risks and boost the recovery in global markets.

The deal reached on Wednesday will fund the US government until Jan 15 and extends the debt ceiling until Feb 7.

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