US debt default will cause chaos

Wong Chin Yoong Wong Chin Yoong Updated 1 week ago · Published on 25 May 2023 12:00PM · 0 Comments

The world needs to transition to a global monetary system with liquidity provided by a true multilateral organisation, instead of having the US dollar dictate global liquidity. – AFP pic, May 25, 2023.

THE world doesn’t seem too worried about the likelihood of the US defaulting on its treasury debt after June 1.

Although the stock market stumbles on the fear of such a possibility, optimism recovers when talks between House Speaker Kevin McCarthy and President Joe Biden begin.

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