Chairman Xi might play the malevolent doppelganger of a much loved children’s cartoon character in memes, but in real life, he’s becoming the guy who yuans to keep control so badly, he see.
consequences would be dire. if the government is no longer able to pay its debt then, in a worst case situation, we would see that there is significant job losses in the us, household consumption falls back, investment as well, financial markets would plummet, and this would impact asia as well, which has very close trade ties, financial market league linkages with us as well. there would be contagion over to the asia pacific region. katrina ell is there from moody s analytics speaking to me a little earlier. the billionaire investor warren buffet has said he is more comfortable investing injapan, rather than taiwan, given the growing tensions between the us and china. last year his investment company mr berkshire hathaway, invested more than $4 billion in the taiwanese chipmaker tsmc only to with three months later, mr buffetts as it is a wonderful company but he feels better falling putting money into japan instead. we can keep talking
analysis on this story. earlier i spoke with katrina ell, a senior economist at moody s analytics who told me we need to see a solution as soon as possible. i to see a solution as soon as possible- possible. i thinkjanet yellen s possible. i thinkjanet yellen s warning - possible. i thinkjanet| yellen s warning does crystallise the importance that congress and the us government really does need to put their best foot forward and get this debt ceiling issues sorted as soon as possible. at the end of the day, the global economy and the day, the global economy and the us economy has gone through a loss of the past three years and this is just another potential really bad situation and if it isn t sorted out soon then the us economy will be unable to avoid a recession and the global economy will go down a dark path as well. it is the global economy will go down a dark path as well. a dark path as well. it is fair to say that a dark path as well. it is fair to say that so a dark pat