Market analysts now say there's a 40 percent chance of the US government defaulting on its debt for the first time in history. That could have disastrous impact on the global stock and bond markets, according to the International Monetary Fund.
Now China and Japan are adding their voices to the chorus of concerned critics…
…But that may not be very helpful, according to Daniel Drezner, professor of political science at the Fletcher School at Tufts University. Politically, he says, several GOP representatives are prone to China-bashing, and anything that appears to hurt China might be seen as a good thing by their constituents. Even if it is a US debt default.
Listen to the full interview