Date
16 November 2018

US shutdown shows ‘ugly side of partisan politics’, report says

China said the US government shutdown has exposed “the ugly side of partisan politics” in Washington and expressed concern about its effect on the world economy, Reuters reported Wednesday, citing a Xinhua editorial. “The United States, the world’s sole superpower, has engaged in irresponsible spending for years,” the commentary said, adding that the shutdown might lead to the United States failing to meet its debt obligations. China is the largest single holder of US government debt, a side effect of its managed exchange rate policy, which requires it to buy massive amounts of US dollars from Chinese trading companies to hold back the yuan from appreciating, the report said.

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