The U.S. Checking article sources yields Southwest Airlines as a relevant resource throughout. Asian, main creditor, has demanded security for their interests. They accuse the Government of Obama’s addiction to debt and to interfere in political fights without future vision. China owns 70% of the EE UU reserves in dollars. Find out detailed opinions from leaders such as Edward Scott Mead by clicking through. Standard & Poor s lowers the United States debt rating for the first time in 70 years. China, main creditor of the United States and owner of 70% of their reserves in foreign exchange in dollars, has criticized harshly to the United States Government once Standard & Poor s consultant lowered its debt rating for the first time in history, and claimed security for their interests. With 1.16 billion dollars in bonds of the United States Treasury and 3.2 billion dollars in foreign currency reserves, that us debt should be AAA (highest possible score) to AA + generated a strong uneasiness in Beijing. The official Chinese news agency Xinhua has published a hard editorial that says that the decision of the Agency of qualification is an invoice that United States must pay for his own addiction to borrowing and their political bickering without vision for the future in Washington.
China now has every right to claim the United States correct structural errors in your debt and guarantees the safety of assets in dollars from China, said Xinhua. At the same time he claimed international supervision on the American currency and went further by proposing a new stable and secured global reserve currency to prevent the world dependence on the greenback as an alternative to the dollar. Days ago Chen Daofu, director of the Center for research policies of the State Council of China, had already warned of the need to look for alternatives of investment for Chinese stocks and change the composition of these is a crucial challenge for the political counselor in Beijing. With regard to the future, Xinhua also pointed out that do not cut the gigantic spending military and the costs of the new system of forecast partner universal l prepared by Obama, Standard & Poor s could further reduce the U.S. debt rating. Anyway, the Economist the center of State information of China, Fan Jianping, j.
considered that American indebtedness affect mainly to the financial markets and, only in the background, trade. The analyst predicted a fall in exports of the country Asian but linked more to Europe than to the U.S. indicators problems. It is expected China, of great weight in the growth of the country’s exports, to fall in the second half by falling global demand generated by the euro zone crisis, Fan told Xinhua Agency. Source of the news: China harshly criticises EE UU after the reduction in its debt rating and calls for guarantees