China Fears U.S. Debt Default as Much as Anyone

President Joe Biden put foreign policy on the back burner on Sunday when he returned to the United States to resume crunch talks with Republican leaders to avert what would be an unprecedented debt default.

Departing the G7 summit in Japan, the Democrat accused the GOP of adopting "extreme positions" to oppose a higher borrowing limit that would fund his administration's legislative agenda. House Speaker Kevin McCarthy and other senior Republicans have called for government spending cuts in order to reduce the national deficit.

Treasury Secretary Janet Yellen, in another...