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What the US shutdown means for Asia

11 October 2013 Last updated at 02:21 BST

The US needs to raise its debt ceiling by 17 October.

Failure to do so could see the US government default on its dues, as it runs out of money to pay its bills and service its national debt.

Many analysts have warned that if Washington fails to avert the looming crisis, it will have dire consequences not just on the US, but also the global economy.

Geoffrey Lunt from the banking group HSBC spoke to the BBC's Rico Hizon about the impact on Asian economies.