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BBCNEWS Asia July 6, 2024

gives no one everything they want, but that s the responsibility of governing. this is a deal and it s good news, i believe, for the american people. the agreement prevents the worst possible crisis, a default for the first time in our nation s history. the two parties have untiljune the 5th to reach an agreement to prevent the us government running out of money. our correspondent in washington jessica parker has more. this deal is set to raise the debt ceiling for two years. that s a big win for the white house. why? well, it means that, forjoe biden, who of course is seeking re election in the 2024 presidential race, he won t have to face this political drama, instability, brinkmanship, right in the run up to that presidential election, so he ll be pleased with that. but the republicans are trying to say they ve chalked up wins in terms of policy, so they are talking about, for example, kevin mccarthy, the house speaker, that there will be curbs on spending. he s talk ....

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BBCNEWS Asia Business Report June 4, 2024 23:33:00

So what does this development mean for asia? i so what does this development meanforasia? i put so what does this development mean for asia? i put that question to carson yeung. in terms of what it s going to do for asian markets, it s really going to. inaudible. put a bit of a damp given that we are seeing. inaudible. the big countries in this part of the world, china, japan, big holders of us treasuries, so what will this mean for them moving forward? absolutely. $2 trillion worth. moving forward? absolutely. $2 trillion worth. we moving forward? absolutely. $2 trillion worth. we look - moving forward? absolutely. $2 trillion worth. we look at - trillion worth. we look at those countries, they make up over a quarter of the outstanding monies owed. definitely relief for those governments knowing some kind of arrangement has been made. ....

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