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“They won’t agree” – why the U.S. is headed for a debt disaster



“They won’t agree” – why the U.S. is headed for a debt disaster, according to Ticker’s political commentator Bruce Wolpe.

President Biden cut short his south-east Asian visit. While China is big on the minds of world leaders – there’s probably a more pressing issue right now.

What happens if the President can’t reach a deal with Republicans and the United States actually defaults on its debt?

So here’s a really simple question. What happens if the US cant service its debt?

After negotiations to raise the federal borrowing limit reached an impasse, President Biden and House Speaker McCarthy agreed to meet again to avoid a sovereign debt default.

House Republican negotiators and White House negotiators failed to bridge their differences over spending levels this weekend, and as usual, both parties blamed the other.

Biden took a sharper tone at a news conference on the sidelines of the G-7 summit, saying that House Republicans have taken “extreme positions.” He added that their current proposal is “unacceptable.”

The president’s tough words marked a change from the upbeat tone he has maintained, and they are more consistent with warnings from White House officials that talks are breaking down.

Legislators, aides, and officials at the White House say that fundamental disagreements about spending levels are at the root of the stalemate.

But here’s a question. Do Republicans have a point? Taxpayers are on the foot for trillions. Can the U.S. keep spending forever? #featured #politics #biden #debt

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China and the U.S. now caught up in a deadly game



As the U.S. and Chinese defence bosses spoke in Beijing, many in the room realised one thing – the two are far from ready to talk.

A thinly veiled criticism of the United States was delivered by Chinese Defence Minister General Li Shangfu.

In his first public statement to an international audience since becoming defence minister in March, Li highlighted China’s Global Security Initiative, a set of foreign policy principles and directions in line with Beijing’s style of diplomacy, which was announced in April last year by Chinese President Xi Jinping.

“It practises exceptionalism and double standards and only serves the interests and follows the rules of a small number of countries,” he told Asia’s biggest defence conference.

Among them are opposition to unilateral sanctions and economic development as a means of stemming instability and conflict.

“Its so-called rules-based international order never tells you what the rules are, and who made these rules,” Li said in a speech to the Shangri-La Dialogue in Singapore, without naming the US or its partners.

#featured #china #li shangfu #south china sea #taiwan

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China and U.S. in the crosshairs over close call



The provocation of a Chinese warship sailing 2000ft off the bow of a U.S. warship near Taiwan has escalated tensions.

As the U.S. and Chinese military chiefs stood in the same room in Singapore, a dangerous manoeuvre was taking place in the South China Sea.

A Chinese naval vessel sailed directly in front of a U.S. warship, in a supposed breach of international law.

The U-S describing this maneuver as “unsafe” but China disagrees. China claims the democratic island of Taiwan as part of its own territory.

Beijing says the strait is part of its exclusive economic zone but the U-S regularly sail through and flies over the area.

The incident in the Taiwan Straits comes after the U-S Defence Secretary and his Chinese counterpart were together in Singapore.

The pair weren’t meeting but they were in the room for a defence conference.

Li Shangfu is China’s Defence Minister who’s suggesting the U-S and its allies are creating danger in the region.

He’s asking one question, “what’s the point of going there?”

And he followed on with the saying “In China we always say: ‘Mind your own business.’”

David Zhang, who’s the host of China Insider, says China is now playing a more dangerous game, akin to a Cold War mentality. #china #south china sea #taiwan #united states #featured

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The great burnout, a generational problem?



You have probably heard of ‘The Great resignation’.

But have you heard of the Great Burnout?

COVID-19 saw many companies introduce a working from home policies, which kept them afloat as well as their workforce employed.

Three years on we love the flexibility, but does it love us?

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