China invoked the United States' brinkmanship over its own debt limit as it hit back at Treasury Secretary Janet Yellen’s criticism of Beijing’s handling of debt issues in developing countries.
The criticism came from the Chinese Embassy in Lusaka, Zambia, on Monday, which blasted the U.S. over its "catastrophic debt problem” and accused it of "sabotaging” other nations’ efforts to resolve debt problems.
Noting that the Treasury has begun taking extraordinary measures to meet its obligations after the U.S. government reached its borrowing limit, the embassy said "the biggest contribution that the U.S. can make to the debt issues outside the country is to act on responsible monetary policies, cope with its own debt problem, and stop sabotaging other sovereign countries’ active efforts to solve their debt issues.”