Content Section
DEBT Biden to China: Don't Bet Against U.S. Andy Wong / AP Photo

Biden to China: Don't Bet Against U.S.

Vice President Joe Biden is working to reassure China on the safety of its nearly $2 trillion holding in U.S. reserves while on a five-day visit to the country. China is the largest foreign creditor to the U.S. "Very sincerely, I want to make clear you have nothing to worry about," Biden told Chinese Premier Wen Jiabao. "No one has ever made money betting against America." The upbeat exchange comes in contrast to Chinese state media's criticism of Washington's handling of fiscal matters. Biden's trip hit an embarrassing note earlier when a "friendship" basketball game between Georgetown University and China's Bayi Military Rockets resulted in a brawl.

August 20, 2011 2:24 PM