Vice President Joe Biden sought to reassure China Sunday that its vast financial assets in the United States are safe and that America will never default on its debts.
In a speech to university students in Chengdu, Biden said he is confident about the strength of the U.S. economy. He noted that Americans still hold the vast majority of the ballooning U.S. debt, leaving Washington with great domestic incentives to rein in spending and ensure repayment.
In response, China's official Xinhua news agency Sunday called Biden's reassurances "far from enough" to soothe concerns in China and other major markets.
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