At midnight on July 31^st, the deadline for the U.S. Congress to raise its debt limit will arrive. If it's not raised or suspended, the U.S. government would effectively default on its loans, which could cause an economic crisis for the U.S. and could even send financial shockwaves throughout the world. With a Democrat back in the White House, are Republicans going to again take the economy hostage by delaying action, causing a possible repeat of the 2011 debt ceiling crisis? What would happen if the U.S. defaults? How would other countries be affected, including China?

To find out more, we've invited professor John Gong from the University of International Business and Economics; Wang Dan, the Chief Economist of Hang Seng Bank (China); and Anthony Chan, the Former JP Morgan Chase Chief Economist.