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The U.S. has hit its legislated debt ceiling of $31.4 trillion dollars. The Democrats and Republicans are in tense negotiations, but not raising the debt ceiling would lead to a U.S. government default as early as June 1. William Lee, Chief Economist at the Milken Institute, says the U.S. government is making itself look like a fool by performing this "Kabuki dance" repeatedly year after year. The only excuse he can give is that the political science elements dominate economics in the U.S. Hong Hao, Chief Economist of GROW Investment Group, highlights that it’s time to look at alternative currencies, like the Chinese RMB.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466