China Smackdown On U.S.

Following Standard & Poor’s downgrading of the U.S. credit rating, China – the largest foreign holder of U.S. debt – demanded the U.S. government to “confront its addiction to debt,” and “come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone.”

china-premier-wen-jiabao

China's Premier Wen Jiabao

China predicts “global financial turbulence if the US fails to learn to “live within its means.”

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What do you think about this?

Do we Americans live within our means?

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World News Wednesday