The U.S. debt ceiling debacle
CGTN, 09 May 2023
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https://www.cgtn.com/video
The U.S. debt ceiling issue rears its ugly head once again, with U.S. Treasury Secretary Janet Yellen warning that the country could be unable to pay its bills by June 1 if Congress does not raise or suspend the debit limit. How did the U.S. sink into this quagmire? How hard will potential spending cuts bite and who will be most affected? The Hub with Wang Guan talks to Michael R. Powers, Zurich Insurance Group chair and professor of finance at Tsinghua University; Josef Gregory Mahoney, professor of politics at East China Normal University; and William Lee, chief economist at the Milken Institute, to discuss the economic and political implications of America's "runaway debt" problem and to look at some of the "extraordinary measures" that have already been put in place to avert a default. Looking at the bigger picture, does it spell trouble for the dollar? Will holders of U.S. debt grow even more wary and trigger a Treasuries sell-off?
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https://www.cgtn.com/video
The U.S. debt ceiling issue rears its ugly head once again, with U.S. Treasury Secretary Janet Yellen warning that the country could be unable to pay its bills by June 1 if Congress does not raise or suspend the debit limit. How did the U.S. sink into this quagmire? How hard will potential spending cuts bite and who will be most affected? The Hub with Wang Guan talks to Michael R. Powers, Zurich Insurance Group chair and professor of finance at Tsinghua University; Josef Gregory Mahoney, professor of politics at East China Normal University; and William Lee, chief economist at the Milken Institute, to discuss the economic and political implications of America's "runaway debt" problem and to look at some of the "extraordinary measures" that have already been put in place to avert a default. Looking at the bigger picture, does it spell trouble for the dollar? Will holders of U.S. debt grow even more wary and trigger a Treasuries sell-off?
Subscribe to us on YouTube: https://goo.gl/lP12gA
Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8
Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv
