Joe Biden In China For Financial Talks

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Context

US Vice President Joe Biden is in China for talks expected to concentrate on the economy following the downgrade of US debt. Beijing is the largest foreign creditor to the US government, holding $1tn of debt, and has urged Washington to cut its budget deficit.

Officials said Biden would explain to China the finer aspects of a “very strong deficit reduction package” approved by Congress. He would also discuss “tremendous mutual interest” in international economic recovery.