9/20/2021, 7:27 PM (Source: TeleTrader)
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US prepared to respond to China's property crisis spillover - WH

White House Press Secretary Jen Psaki told reporters on Monday that the United States government in the face of the Treasury Department is prepared to accordingly respond if needed to China's real estate crisis and the potential default of a developer giant Evergrande.

"This is a company based in China, whose activities are overwhelmingly centered in China. That being said, we always are monitoring global markets, obviously from the Department of Treasury primarily, including assessing any risk to the US economy," Psaki stated.

On relations between the US and China, Psaki also noted that in his upcoming speech before the United Nations General Assembly, US President Joe Biden will make clear he is not looking to pursue a new Cold War with any country.

Baha Breaking the News (BBN) / LH