US debt default will cause chaos


Wong Chin Yoong

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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