Thursday, August 18, 2011

Head of Bank of China confident U.S. will handle debt

Beijing - Though the head of the Bank of China said he is concerned about the debt crisis in the United States, he is confident in U.S. officials and expects Washington to deal with the issue.

The statement came during a state visit by Vice President Joe Biden to the largest foreign creditor of the U.S. The Bank of China is that nation's chief exchange bank, through which the purchase of billions of dollars in U.S. Treasury bonds have been routed.

"We are a little concerned, but we are confident that the U.S. government should be able to solve this problem," said bank president Li Lihui, when asked whether he was concerned about the stability of the dollar and the U.S. debt situation.

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