Only four days left and the US Treasury will have insufficient fund to pay its maturing loans, unless Congress will raise the debt limit, so that the US government can borrow more to pay its maturing debt obligations.
Although the bulk of the US federal debt of $14.270 as of end-March 2011 were from US individuals, corporations and government accounts, more than $2 trillion of it are from Asian governments and central banks (in $ billion): China 1,152, Japan 907, Taiwan 154, Hong Kong 122, Thailand 61, Singapore 60.
A debt default, even temporarily, is bad signal for US government creditors, including Asian governments and central banks. It would imply that US promises and written contracts can be unreliable. Future US government deals, from trade to security and other sectors will be adversely affected.