Biden tells China: US will never default on debt

AFP
August 21, 2011

CHENGDU, China (AFP) – US Vice President Joe Biden said Sunday that the world’s biggest economy would never default on its debts, during a visit aimed at boosting Chinese confidence in America’s beleaguered finances.

In a speech to hundreds of university students in the vast southwestern city of Chengdu, Biden also urged China to “cherish” a free flow of information between the government and public, as the communist state quells dissent anew.

Biden said at Sichuan University that the United States remained the “single best bet” for investment — despite the historic downgrade this month of the country’s top-notch credit rating by Standard & Poor’s.

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“The United States has never defaulted and never will,” he said, on the final day of his first official visit to China as vice president.

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This article was posted: Sunday, August 21, 2011 at 9:23 am

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