Opening Word document…
Default won’t happen --- China doesn’t want it, but even if it did dollar heg would remain intact.
Arthur R. Kroeber 1-27. Managing director of GaveKal Dragonomics, . "China Doesn’t Want a U.S. Debt Default". Foreign Policy. 1-27-2023. https://foreignpolicy.com/2023/01/27/us-debt-default-china-global-financial-system-treasurys/
The good news is that a U.S. default is improbable. Most likely, Congress will reach a deal under which the debt ceiling is raised now in exchange for promises of federal spending cuts later. This is what the “Tea Party” Congress did in 2011 and the outcome that Senate Minority Leader Mitch McConnell has forecast.
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