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Chinese ratings agency threatens US with new debt downgrade

• The Guardian

The head of China's biggest ratings agency, Dagong Global Credit Rating, is warning that it may downgrade the US's sovereign debt rating again because of Washington's failure to tackle the federal budget deficit.

The remarks by Dagong's chairman, Guan Jianzhong, to be broadcast in an interview with al-Jazeera on Saturday morning, come at the end of another week of deep turmoil for the world economy.

Dagong, which has maintained a pessimistic outlook on US fiscal policy, has been leading the charge to downgrade US debt over the last 12 months, lowering the US rating from AA to A+ a year ago.


1 Comments in Response to

Comment by David Jackson
Entered on:

      Does this mean that americans won't be able to poison their kids with lead-ladened toys; or, maybe, we won't be able to get as much poison drywall as we used to?

       What will we do? As best I can tell, the only thing that ever came out of China was Bruce Lee. Does all this mean that we won't be able to waste more of our wealth and health on the crap we import from them?

       Before they start trying to control American financial status, I'd like to see them develop an alphabet, just to see if they can pull it off.

       Since clinton seems to have sold all of our "secrets" to them, it's a real brain teaser to imagine what the hell we really need their B.S. for. We can Nationalize" everything they've bought up, without spending a cent.

        Try as I might, I can't think of anything from China that I can't (couldn't) live without. I did know a Chinese woman, years ago, who was one of the most intelligent and beautiful women on earth...The Chinese would have probably killed her, if she hadn't made her way to the South. As it turned out, they missed their chance. The millions of others they've slaughtered, obviously, can't claim as much.

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