Tuesday, October 08, 2013

Japan Alarmed Over U.S. Debt Crisis --- TOKYO — Japan’s finance minister urged the United States on Tuesday to avoid a default that could cast the global economy into turmoil and hurt the value of Japan’s enormous holdings of United States Treasury bonds, a day after similar warnings from China, which has an even larger stake in American debt. --- China and Japan, the two largest foreign creditors of the United States, are growing increasingly worried over the potential economic and political fallout if American leaders are unable to strike a deal to lift the debt ceiling from its current $16.7 trillion, raising the prospect of an unprecedented default and disrupted financial markets. - nytimes

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