Dagong Show: China Hammers U.S. Credit Rating -- ForbesA report from America's biggest foreign creditor is the latest to ding the gold-plated reputation of U.S. Treasury debt.
A Chinese credit rating agency issued a report this weekend saddling the United States with a double-A rating, while warning that slow growth and budget problems could prompt further downgrades here and in other big Western economies.
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More News On China Assessing Sovereign Credit Worthiness
Chinese Rating Agency Strips Western Nations Of AAA Status -- The Telegraph
China agency 'downgrades' US Treasuries -- Sydney Morning Herald
US, UK losers as China rates the world -- Al Jazeera
China Wins Higher Rating Than U.S. in First Ranking -- Bloomberg Businessweek
Chinese credit firm says US worse risk than China -- AP
China-based ratings agency takes on S&P, Moody's, Fitch -- International Business Times
US, UK, Cananda Not AAA, Chinese Rating Agency -- Another Financial Portal
Dagong Goes Global: Sets China at AA+, US at AA, UK at AA-, Spain at A- -- Street Insider
Asset-shift from west to east -- Reuters (opinion)
My Comment: After the many failures of the Western ratings agencies in the past few years .... an alternative is a welcome sign. But on the big picture this trend reveals the extent on how much the U.S. .... as well as the West as a whole .... has declined as a financial powerhouse on the international scene.
I predict that this decline in financial power will soon manifest itself in a decline of political influence (on the international scene) .... followed by a decline in its military and the ability to project its influence and power abroad.
Is such a trend destabilizing .... you betcha!
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