America will almost break the debt contracts

The situation of negotiation for American debt turned bad to worse. As the reported, the negotiation between White House and the Congress broke again at July 22. Barak Obama could not hind his anger anymore and admitted there was possibility to break the debt contracts. Now it seems that even the agreement can be reached, the legislative process cannot be finished before August 2. The horrible situation let people worry about there might be a more serious crisis coming up.

The United States kidnap the whole world economy which aroused more and more worries about the global market, everyone want to avoid the risks.

Ye Tan, the financial expert said who store the more dollar would lose more. China will be the one who been hurt most.

Source: People’s Daily

Translated and edited by Yang Jingmin

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