{"id":4968,"date":"2011-08-12T21:03:07","date_gmt":"2011-08-12T21:03:07","guid":{"rendered":"http:\/\/divineearth.org\/main\/?p=4968"},"modified":"2011-08-12T21:03:07","modified_gmt":"2011-08-12T21:03:07","slug":"china-tells-us-good-old-days-of-borrowing-over","status":"publish","type":"post","link":"http:\/\/divineearth.org\/main\/china-tells-us-good-old-days-of-borrowing-over\/","title":{"rendered":"China Tells US ‘Good Old Days’ of Borrowing Over"},"content":{"rendered":"

(Reuters) China bluntly criticized the US on Saturday one day after the superpower’s credit rating was downgraded, saying the “good old days” of borrowing were over.<\/p>\n

Standard & Poor’s cut the U.S. long-term credit rating from top-tier AAA by a notch to AA-plus on Friday over concerns about the nation’s budget deficits and climbing debt burden.<\/p>\n

China — the United States’ biggest creditor — said Washington only had itself to blame for its plight and called for a new stable global reserve currency.<\/p>\n

After a week which saw $2.5 trillion wiped off global markets, the move deepened investors’ concerns of an impending recession in the United States and over the euro zone crisis.<\/p>\n

Finance ministers and central bankers of the Group of Seven major industrialized nations will confer by telephone later on Saturday or on Sunday, a senior European diplomatic source said.<\/p>\n

For the rest of this article, go here:<\/p>\n

http:\/\/www.cnbc.com\/id\/44044859<\/a><\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) China bluntly criticized the US on Saturday one day after the superpower’s credit rating was downgraded, saying the “good old days” of borrowing were over. Standard & Poor’s cut the U.S. long-term credit rating from top-tier AAA by a notch to AA-plus on Friday over concerns about the nation’s \u2026<\/p>\n

Continue reading<\/i><\/a><\/p>\n","protected":false},"author":439,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,5,9],"tags":[],"class_list":["post-4968","post","type-post","status-publish","format-standard","hentry","category-economy","category-politics","category-world-news"],"_links":{"self":[{"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/posts\/4968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/users\/439"}],"replies":[{"embeddable":true,"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/comments?post=4968"}],"version-history":[{"count":4,"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/posts\/4968\/revisions"}],"predecessor-version":[{"id":4972,"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/posts\/4968\/revisions\/4972"}],"wp:attachment":[{"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/media?parent=4968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/categories?post=4968"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/divineearth.org\/main\/wp-json\/wp\/v2\/tags?post=4968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}