{"id":16235,"date":"2013-10-17T03:10:51","date_gmt":"2013-10-17T03:10:51","guid":{"rendered":""},"modified":"2013-10-17T04:10:16","modified_gmt":"2013-10-17T04:10:16","slug":"China-not-impressed-by-U-S-debt-deal","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=16235","title":{"rendered":"China not impressed by U.S. debt deal"},"content":{"rendered":"

Well, are you?<\/strong><\/p>\n

America’s largest overseas creditor wasn’t exactly blown away by the deal Congress struck to avoid a potential default.<\/p>\n

“[P]oliticians in Washington have done nothing substantial but postponing once again the final bankruptcy of global confidence in the U.S. financial system,” government-run Chinese news agency Xinhau Thursday.<\/p>\n

Wednesday’s vote, the commentary said, “was no more than prolonging the fuse of the U.S. debt bomb one inch longer.”<\/p>\n

And a Chinese credit rating agency Dagong downgraded the United States<\/strong>, saying the deal did little to change the outlook for the country’s financial condition.<\/p>\n

It lowered its view of the U.S. debt rating from A to A- and kept it on negative credit outlook, which means further downgrades are possible.<\/strong><\/p>\n

“The government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future,” the firm wrote in a note.<\/p>\n

The firm’s ratings are not widely followed outside of China, which owned $1.3 trillion in Treasuries as of July.<\/strong> That’s almost a quarter of debt held overseas.<\/p>\n

The criticism of the U.S. debt and political crisis by China has been building for some time.<\/p>\n

A week ago Chinese Vice Finance Minister Zhu Guangyao said that a solution had to be found quickly to “ensure the safety of Chinese investments” and provide stability for economies around the globe.<\/p>\n

And another commentary from Xinhau earlier this week said the “pernicious impasse” in Washington warrants a move to a “de-Americanized world.”<\/strong><\/p>\n

Just lovely!<\/p>\n

Source www.cnnmoney.com<\/em>
\n<\/p>\n","protected":false},"excerpt":{"rendered":"

Well, are you? America’s largest overseas creditor wasn’t exactly blown away by the deal Congress struck to avoid a potential<\/p>\n","protected":false},"author":1,"featured_media":72448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[],"tags":[],"class_list":["post-16235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","medium_large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","1536x1536":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","2048x2048":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-highlighted-post":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-small":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x90.jpg","colormag-featured-image":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-default-news":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","colormag-featured-image-large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-block-extra-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-small-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-medium-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg"},"magazineBlocksPostAuthor":{"name":"Admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Well, are you? America’s largest overseas creditor wasn’t exactly blown away by the deal Congress struck to avoid a potential","magazineBlocksPostCategories":[],"magazineBlocksPostViewCount":158,"magazineBlocksPostReadTime":2,"magazine_blocks_featured_image_url":{"full":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg",113,170,false],"medium":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg",113,170,false],"thumbnail":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg",113,150,true]},"magazine_blocks_author":{"display_name":"Admin","author_link":"https:\/\/asiancemagazine.com\/?author=1"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g","magazine_blocks_category":"","_links":{"self":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/16235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16235"}],"version-history":[{"count":0,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/16235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/media\/72448"}],"wp:attachment":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}