BizBeat Ep. 656: U.S. default looms as debt agreement fails

U.S. President Joe Biden and House Speaker Kevin McCarthy were unable to reach an agreement on raising the U.S. government's debt ceiling on Monday, with just 10 days before a possible default that could sink the U.S. economy. Economists warn that a possible debt default could bring on a recession and that America's economy would hardly sink alone, making many countries skeptical of America's oversized role in global finance. In this episode of BizBeat, CGTN's Michelle Van den Bergh explains.

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