China: Obama Has Failed To Defuse ‘Debt Bomb’; Chinese Govt Downgrades US Debt

Niccolo Machiavelli Big Peace 8/3/2011

BEIJING: China warned Wednesday that tortured efforts to raise the US debt ceiling had failed to defuse Washington’s “debt bomb”, and that it would further diversify its currency holdings away from the dollar.

US President Barack Obama finally signed an emergency austerity bill on Tuesday that averted what would have […]