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Roach Says Chinese Officials ‘Appalled’ by U.S. Debt Impasse

Senior Chinese officials are “appalled” by the impasse among U.S. politicians on raising the nation’s debt ceiling to avoid a default, said Stephen Roach, non-executive chairman of Morgan Stanley Asia Ltd.

“Coming so shortly on the heels of the subprime crisis, the debate over the debt ceiling and the budget deficit is the last straw” for China, New York-based Roach, 65, said in an e-mailed note today. He said his assessment was based on visits to Beijing, Shanghai, Chongqing and Hong Kong.