Last-minute US debt ceiling rise leaves world reeling

Mitigating delivery risk

Despite lawmakers agreeing a last-minute deal on Tuesday to lift the debt ceiling in the US, investor confidence has been deeply shaken by the indecision shown by the world's leading economy.

Zhou Xiaochuan, governor of the People's Bank of China (PBC), on Wednesday welcomed the passing of the Budget Control Act. He said he believed it had "marked effort by the US in raising debt limits and reducing budget deficits in the long run". However, he warned the PBC "would closely observe its

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