US debt ceiling resolution helps global stability: China

US debt ceiling resolution helps global stability: China

BEIJING - China on Thursday welcomed the resolution of the US debt ceiling deadlock, saying it will contribute to global economic stability.

"The US is the largest economy in the world and the proper resolution of this issue serves not only its own interest but also world economic stability and development," foreign ministry spokeswoman Hua Chunying told reporters in a regular press briefing.

"We welcome the progress in resolving the issue." Her comments came after China's official news agency Xinhua said in a bylined commentary that US politicians had held the rest of the world hostage in the crisis.

The bylined English-language commentary was released barely an hour after President Barack Obama signed the deal ending the federal government shutdown and raising the limit on Washington's borrowing.

"The founding fathers of the United States of America created Congress for the sake of balance of power," it said.

"They would turn in their graves if they saw their design being kidnapped for political brinkmanship.

"Although they clearly knew the dire consequences of a default on the US economy and the rest of the world, the Democrats and Republicans played brinkmanship into the final moment for the sake of partisan interests." The government shutdown, the narrowly-averted threat of default and the horse-trading surrounding the situation showed that "Congress itself has become the problem", it said.

China is a one-party state where the Communist authorities retain an iron grip on power, regularly ruling out any move towards Western-style democratic politics.

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