American politicians are acting like Hitler in his bunker in refusing to accept the US debt realities, which China is rightfully worried about, economist William Anderson told RT.
”These folks in Washington are delusional,” he said. “Let me give the example of Hitler’s bunker. During the end of World War II everybody in Hitler’s bunker thought they could still win the war, when the Russians were outside and already in the streets of Berlin.”
”We have to understand this situation is not sustainable and they can talk about a short-term solution, but they have allowed this thing to go on to a point where they are going to have to admit defeat or defeat is going to be there for them,” Anderson added.
According to William Anderson, China, as a lender, has every right to point the finger at America, blaming it for irresponsibility in dealing with its debt.
”We have been playing this game with China and, sooner or later, they are going to come to the understanding in China that, maybe, the United States is not a very reliable borrower and, certainly, not a very reliable business partner, at least, the government is not reliable in that way,” he said.
”Those are strong words but frankly, I am glad the Chinese are finally saying something,” Anderson added. “I would guarantee they have been thinking this for a long time but now they are finally coming out and saying it.”
As the US politicians cannot come to a compromise about the issue of the debt ceiling, Chinese state-run media outlet Xinhua has called America’s actions “dangerously irresponsible.”
Next Tuesday comes as the deadline for US lawmakers to raise their country’s debt ceiling. Investors say that failure to do so will result in major global consequences.