Foreign Media: China Severely Criticize America's "Debt Addiction"

China today severely condemns the United States. Borrow money Addiction and "short-sighted" political wrangling, and the world needs a new stable global reserve currency.

In the harsh wording of today's official Xinhua news agency, China issued the first official comment on standard Pool Co's reduction of us long-term sovereign credit rating.

This commentary in English commented: "the biggest superpower in the world is the largest. Claims China now has full rights to the United States to solve its debt problem and ensure the safety of Chinese dollar assets.

China also urged the United States to cut military spending and social welfare expenditure and use "common sense" to "cure its addiction to debt". Commentary said: "the US government must accept the painful reality that the good days to borrow money to solve the difficulties made by them are over."

China also said that further reduction of credit rating is likely to affect the global economic recovery and trigger new financial chaos. Commented: "the introduction of international regulation on the issuance of US dollars should be introduced, and the new stable and secure global reserve currency is also an option to avoid disasters caused by a single country."

Earlier this week, China urged Washington to solve the debt problem responsibly and said that the uncertainty of the US Treasury bond market would affect the global monetary system and impede global economic growth.

The Washington Post website reported in August 6th: China asks the us to end "debt addiction" directly.

China's official news agency issued a harsh wording on the 6 day that the international rating agency Standard Pool Co announced that the US long-term sovereign credit rating was downgraded, indicating that the United States needs to "cure its debts". Addiction And "rebuild the common sense that we should live within our means". {page_break}

The Xinhua news agency usually reflects the views of the supreme leadership of the Chinese Communist Party and sets the tone for the follow-up reports of other state media.

During the deadlock between the White House and Republican lawmakers in the weeks of debt talks, China, through its official controlled media, remained largely silent. However, S & P's downgrading of its credit rating on the 5 day may affect the value of US debt held by China, and China is forced to adopt a more direct and sharp attitude.

Three days before the commentary, China credit The rating agency Dagong international credit rating company said that because Washington raised the US debt ceiling, it lowered the US credit rating from A+ to A, and the outlook was negative. Dagong also lowered its US credit rating last November because of the Fed's loose monetary policy.

Xinhua commented on the 6 day that when Dagong first lowered its credit rating last year, "some Western commentators are rather arrogant and disinclined". Xinhua said today's S & P's downgrade "proves that its Chinese counterparts are just telling an ugly fact of global investors".

The New York Times website reported in August 6th: China tells the United States that it must "cure its addiction to debt".

After the international rating agency Standard Pool Co announced that the us long term sovereign credit rating would be lowered by only a few hours, China, the largest creditor country in the United States, said Washington needed to "cure its addiction to debt" and "live within its means".

The latest comment by Xinhua today is the latest move by Beijing to express its dissatisfaction with Washington. This comment clearly shows that the global position of the United States is declining, and China's admission is rising. {page_break}

Spain's Le Monde website reported August 6th: China sharply criticized the US's "debt addiction".

After the rating agency Standard Pool Co lowered the AAA rating of the US long-term sovereign credit, China severely condemned the US government on the debt crisis and demanded protection.

China is the main holder of US Treasury bonds. It denounces the "short-sighted" political struggle that the United States carries out on the debt issue, and says that the world needs stable new reserve currency.

The Xinhua News Agency issued a commentary today that the decision of the rating agency is the price that the United States must pay for its debt addiction and short-sighted political struggle.

Broadcasting British Corporation economic correspondent Robert Pesto believes that China's criticism will increase pressure on Washington to reduce its deficit faster than originally planned, which may not be the result of the United States's willingness to accept it.