Biden Tells Wen ‘You Have Nothing to Worry About’ Over Debt

Vice President Joe Biden told Chinese Premier Wen Jiabao his government doesn’t need to worry about the safety of Treasuries as the world’s biggest overseas holder of U.S. debt.

“U.S. Treasuries we’re going to take care of very closely, not merely because China owns 8 percent of them; Americans own 85 percent,” he said when the two men met today in Beijing, where he is on the second day of a tour of China. “Very sincerely, I want to make clear you have nothing to worry about,” Biden said, adding he and Wen shared an “absolute and mutual confidence in the U.S. economy.”