During the debt-ceiling debacle, Washington pushed the U.S. economy close to an abyss. Now it is risking U.S.-Chinese relations.
Two months ago, Chinese officials were appalled by the U.S. debt impasse. A month ago, Vice President Biden, after Washington’s summer-long debt drama, sought to assure Beijing that “a successful China can make our country more prosperous, not less.”
On Monday, weeks of pledges and assurances over joint U.S. and Chinese interests were nullified in a matter of hours as the Senate weighed “whether to punish China for undervaluing its currency and taking away American jobs.”
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