Beijing tells US to fix own debt problems after Yellen calls China a barrier to solving Zambia crisis
- Chinese embassy in Zambia responds to US Treasury secretary’s comment that progress from China on a debt deal with Zambia had taken too long
- Yellen says she discussed Zambia debt with Chinese Vice-Premier Liu He in Davos last week and ‘our talks were constructive’
A statement released by the Chinese embassy in Zambia on Tuesday said the best prospect for debt issues outside America would be “the US Treasury Department solving the US’ own domestic debt problem”.
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“In fact, the biggest contribution that the US 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,” the embassy statement said.
“Even if the US one day solves its debt problem, it is not qualified to make groundless accusations against, or press for, other countries out of selfish interests, because it cannot at all alleviate [the] US’ tremendous responsibility for the reason of the world debt issues, let alone the fact the US’ domestic debt problem is now worsening the world’s economic and financial stability.”
Yellen is on a 10-day trip to Africa, visiting three countries. Speaking in the Zambian capital Lusaka on Monday, she said progress from China on a debt deal with Zambia had “taken far too long already to resolve”.
“I know the Chinese have been a barrier to concluding the negotiations,” Yellen said.
