Government Shutdown, Debt Ceiling, China, and the Apocalypse! | China Uncensored
October 11, 2013
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4:12Now PlayingGovernment Shutdown, Debt Ceiling, China, and the Apocalypse! | China Uncensored
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as posted by the channelThe US government has been shut down for more than a week and if the US doesn't decide to raise the debt ceiling by October 17, we're going into default and possibly plunging the world in a global recession. That will be particularly bad for China. China currently holds about 1.3 trillion dollars of US debt. But more than that, the entire Chinese economy hinges on an undervalued yuan to maintain cheap exports. If the value of the dollar plummets, that could spell disaster of the Chinese economy, not to mention the entire world. On this episode of China Uncensored, find out how the Republican game of political cat and mouse could spell an end to the world's second largest economy. And the first. And third, fourth, fifth, etc...
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