Hillary Clinton, US Secretary of State, tried to assure global financial markets that the US economy has a viable efficient model that has helped it withstand all crises.

Addressing the US Chamber of Commerce in Hong Kong, the State Secretary assured that the US Congress would come to a deal on the debt before August 2 deadline to avert default.

"The political wrangling in Washington is intense right now," Clinton said. "But these kinds of debates have been a constant in our political life throughout the history of our republic. Sometimes they are messy... but this is how an open and democratic society ultimately comes together to reach the right solution. So I am confident that Congress will do the right thing and secure a deal on the debt ceiling and work with President Obama to take steps necessary to improve our long-term fiscal outlook."

"Of course, countries in this region are grappling with challenges," Clinton said. "But we are bullish on Asia's future. And while the United States is facing its own challenges, make no mistake: We are bullish on America's future, too."

Clinton appealed to China and others not to lose faith in the American economic model, which she said is resilient and has recovered from numerous past crises.

"America remains an `opportunity society,"' she said, "a country of possibility and mobility where a brilliant idea hatched in a college dorm room or a product invented in a garage can find a global market and grow into a multibillion-dollar company."