Washington Warns Against Exploiting of US Default by Russia, China to Hit Dollar

White House spokeswoman Karen Jean-Pierre warned that Russia and China would take advantage of Washington's default on public debt to highlight chaos in the United States, shake world confidence in the dollar, and hit markets, according to Russia Today.

Commenting on the prospects of a debt default, Jean-Pierre said: “China and Russia will try to use the debt default to show the chaos within the United States, as well as our inability to function as a democracy. This will also create mistrust in the world in the dollar and in American institutions and leadership, which will lead to disruption of markets that depend on the dollar."

On the other hand, US Treasury Secretary Janet Yellen stated that there is a "big gap" between the positions of President Joe Biden and the Republicans regarding raising the public debt ceiling in the United States, which has turned into a crisis after it reached its highest level.

And the American businessman and billionaire Elon Musk considered that the debt default in the United States is only "a matter of time, which will be followed by a great depression."