WH Open To Short-term Hike In Debt Limit
The US government shutdown because they are lack of money to operate; however, what are the other impacts we may concern?
Firstly, as a Chinese I would concern about the loan we lent to the US. China and Japan have warned US on default. Especially my country is US’s biggest creditor. If the government do not take action, they would hit the debt ceiling on Oct. 17th.
Secondly, the public services now shut down in US. This is very inconvenient for the US civilians. Also, a lot of civilian workers are now idled. This would let the country stuck in the state of inefficiency and would lost more money. The idled workers cannot get salary anymore is an issue too.
Thirdly, the things happening in the political field always have a influence on economics. As a result, the stock price falls and the traders in Wall Street feel anxious.
These are the main impacts. I read news from Chinese media as well, China’s national holiday started from Oct 1st to Oct 7th, a lot of Chinese people choose to travel. Because of government shutdown, people avoided coming to USA which cause the US lost more money.
cites:
“No End in Sight to US Government Shutdown.” VOA. N.p., n.d. Web. 08 Oct. 2013. <http://www.voanews.com/content/no-end-in-sight-to-us-government-shutdown/1764463.html>.
“5 Things to Know about Government Shutdown on Tuesday.” USA Today. Gannett, n.d. Web. 08 Oct. 2013. <http://www.usatoday.com/story/news/politics/2013/10/08/government-shutdown-five-things-tuesday-oct-8/2939473/>.
“Washington Shutdown Must End, China Tells the US: Finance Minister Demands ‘concrete Measures’ to Avoid Catastrophic Default.” Mail Online. N.p., n.d. Web. 08 Oct. 2013. <http://www.dailymail.co.uk/news/article-2449301/Washington-shutdown-end-China-tells-US-Finance-minister-demands-concrete-measures-avoid-catastrophic-default.html>.
“China and Japan Warn US on Default.” Financial Times. N.p., n.d. Web. 08 Oct. 2013. <http://www.ft.com/cms/s/0/a73a3728-2f41-11e3-ae87-00144feab7de.html>.
“外媒在黄金周审视中国游客 美旅游业错失商机.” 外媒在黄金周审视中国游客 美旅游业错失商机. N.p., n.d. Web. 08 Oct. 2013. <http://finance.cnr.cn/gundong/201310/t20131008_513765636.shtml>.