If Washington had failed to reach a deal and defaulted on its debt, the consequences for the global economy would have been disastrous.
China's Xi Jinping has been unanimously reappointed president for a second term, with no limit on the number of terms he can serve. His close ally Wang Qishan has been appointed his deputy.
Chancellor Angela Merkel has spoken with Chinese President Xi Jinping about steel overcapacity and the US threat of tariffs. They are to work on solutions through the G20 group of industrialized nations.
Nations across the world have mostly shrugged off Donald Trump's decision to put CIA head Mike Pompeo in charge of the US State Department. Moscow said it was "hardly possible" for bilateral ties to fall any lower.
The Trump administration is reportedly preparing to impose tariffs targeting Chinese tech and telecommunications imports. Should Washington follow through on the move, it could spark harsh retaliation from Beijing.
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