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America's biggest creditor -- China -- is signaling deep unhappiness over
this week's deal to raise the U.S. debt ceiling and the way it was
accomplished.A Chinese credit rating agency Wednesday downgraded U.S. debt,
saying the deal does nothing to address the underlying problem. And the official
Xinhua news agency dismissed the negotiating process that produced the deal as
"a madcap farce of brinksmanship."
Zhou Xiaochuan, the governor of China's central bank, used more measured
language but issued a similar message. He called for Washington to take concrete
and responsible steps to rebuild confidence in U.S. Treasury bonds, saying
uncertainties are a threat to the global economic recovery.Zhou welcomed
Tuesday's deal, but said he will be watching closely to see how it is
implemented. He also said China will continue seeking to diversify its
investments. |
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