If the debt crisis roiling Washington were eventually to send the U.S. crashing into recession, America's economy would hardly sink alone. Here's what to know:
File - People linger in the Central Business District in Beijing, Wednesday, Oct. 26, 2022. If the debt crisis now roiling Washington were eventually to send the United States crashing into recession, the repercussions of a first-ever default on the federal debt would reverberate around the world and quickly. File - People linger in the Central Business District in Beijing, Wednesday, Oct. 26, 2022.
The repercussions of a first-ever default on the federal debt would quickly reverberate around the world. Orders for Chinese factories that sell electronics to the United States could dry up. Swiss investors who own U.S. Treasurys would suffer losses. Sri Lankan companies could no longer deploy dollars as an alternative to their own dodgy currency.
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What it would mean for the global economy if the US defaults on its debtIf the debt crisis roiling Washington were eventually to send the United States crashing into recession, America’s economy would hardly sink alone
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