Biden highlights economic ties during Chinese trip

Amid mounting tension over American debt, U.S. Vice-President Joe Biden called for greater economic co-operation between his country and its largest foreign creditor, China, this week. Chinese state media have been harshly critical about recent U.S. economic woes. After the recent debt-ceiling crisis, analysts now believe China may be worried about holding so many greenbacks. In Beijing, Biden’s Chinese counterpart, Xi Jimping, told the vice-president that “China and the United States have a responsibility to strengthen macro-economic policy co-ordination and together boost market confidence,” according to state media. Biden, meanwhile, called cooperation between China and the United States “the key ... to global stability.”

BBC News