A Boiling Point for the U.S. Debt Ceiling
It must be hard for Chinese observers to understand the wrangling between the Congress and the Obama Administration over raising the U.S. debt ceiling. Well, they're not alone. It's hard for American observers to understand it too.
The situation reflects badly on everyone. The Republican Party is being held hostage by a Tea Party faction that opposes additional taxes at all cost. It would rather have the federal government's credit destroyed than see one additional penny of revenue. Even taxes on the use of private jets by corporate CEOs and on the carried interest of hedge fund managers are rejected as a matter of principle.
- Fighting for Breath
- Graphic: Level of Distrust
- Forsaking the Fluff, China Joins the Cloud
- Media Watch: Xinhua, People's Daily in Rare Tussle, over Rate Cuts
- Watchdog Repeats Order to Remove Net TV Apps from E-Stores
- Peng Visits Delhi
- iPhone 6 Launch
- Caixin Podcast: Will Jack Ma Drop Hangzhou for Hong Kong?
- Caixin Podcast: No Ordinary Heist in Dalian
- Sign up to receive our free daily newsletter
- UnionPay, Apple Said to Agree on U.S. Firm's New Payment Technology
- Coming to Grips with Ammonia in China's Haze
- After Years of Dominance, UnionPay's Enemies Arrive at the Gates
- New-Energy Car Market Is Open Road, BYD CEO Wang Chuanfu Says
- Closer Look: Alibaba's Looming IPO Sends Shockwaves through Bourses at Home, Abroad
- PBOC Punishes Payment Companies for Mishandling Bank Card Transactions
- Amid Market Downtown, China's Developers Dig In
- Media Outlet Blackmailed over 100 Companies, Xinhua Reports
- Cutting Pay of SOE Bosses Just the Beginning of Necessary Changes
- Shenzhen's Qianhai Zone Joins Overseas E-Commerce Pilot