Another fiscal crisis looming 'within months'; the yuan under pressure to rise

The US government is back in business after a last-minute deal late Wednesday night in Washington prevented the government from defaulting on its loans.

However, experts said that the debt-ceiling crisis will raise its head again and China must refrain from holding massive US dollar assets.

The US Congress passed a bill on Wednesday to extend the nation's borrowing authority and end a 16-day partial shutdown of the government just two hours before the deadline beyond which the Treasury had warned it might not be able to pay its bills.

But the measure adopted by Congress only funds the government until Jan 15 and allows it to borrow freely until Feb 7.