China Shuts down US criticism about Zambia debt trap
Chinese officials in Zambia had a direct answer this week when U.S. Treasury Secretary Janet Yellen referred to China as a "barrier" to debt restructuring in Africa, saying: "Get your own house in order."
The Chinese Embassy in Zambia stated on its website on Tuesday that "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."
Republicans in the House of Representatives are putting the Biden administration and Democrats under pressure to reduce spending by threatening to abstain from voting on a new debt ceiling, which reflects money that has already been spent and is now owed by the government. The Biden administration has so far refused to engage in negotiations, betting that conservative Republicans will budge in response to pressure from industry, investors, and moderates.
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