August 19, 2011

China’s prime minister expressed confidence Friday in the US economy as he held talks with visiting Vice President Joe Biden after a historic downgrade of the United States’ top-notch credit rating.

China is the largest foreign holder of US debt, and Biden has used his first official visit to China since becoming vice president to reassure the country’s leaders that their investment remains safe.

Premier Wen Jiabao said Biden’s “clear message” had served to boost investor confidence in the United States, the world’s largest economy, which earlier this month came within days of a devastating default on its debts.

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