Taiwan on US debt ceiling standoff: ‘We’ll watch it very closely’ ...Middle East

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Taiwan on US debt ceiling standoff: ‘We’ll watch it very closely’
TAIPEI – Taiwan is watching the high-stakes debate over the United States debt limit “very closely” given the two economies are “very closely connected,” the island country’s foreign minister told reporters on Tuesday. President Biden and Republicans are facing a June 1 deadline to come to an agreement to raise the debt ceiling or risk a default that could have enormous consequences on the global economy – potentially tanking America’s credit rating, triggering a recession and sending the stock markets plummeting.  “The first question of possible risk for Taiwan if the U.S. is to default the debt, normally we don’t expect this kinds of situation would happen and we’ll follow very cl

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