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"You're safe," Biden told a university in Sichuan, the southwest province that is the second and last stop of his visit to China, in answer to a question about Washington's ability to repay its debt.
"Please understand that no one cares more about this than we do, since Americans own 87 percent of all our financial assets and 69 percent of all our treasury bonds, while China owns 1 percent of our financial assets and 8 percent of our treasury bills, respectively," Biden said at Sichuan University in the provincial capital, Chengdu.
"So our interest is not just to protect Chinese investment. We have an overarching interest in protecting the investment, while the United States has never defaulted and never will default."
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