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Government officials in China, the largest foreign holder of U.S. debt, have been chastising the U.S. over Standard & Poor’s downgrade to AA+.
Guan Jianzhong, chairman of Dagong Global Credit Rating, has said the U.S. dollar is “gradually [being] discarded by the world,” and the “process will be irreversible.”
But China’s debt-to-GDP ratio is worse than the United States’ ratio. It is worse than insolvent Portugal, which is now relying heavily on the European Central Bank for help, and had to
...In Asia Pacific, J.P. Morgan operates through 27 offices in 15 countries and has built its business over a history of almost 160 years in the region.
J.P. Morgan commenced operations in China in 1921 with the opening of an office in Shanghai. Today, J.P. Morgan in China offers its clients a wide range of services across investment banking, risk management, commodities, cash management, trade finance, loans, foreign exchange and derivatives, asset management, futures brokerage and private equity. The firm serves Chinese and international corporates, financial institutions and government agencies through its network of offices and branches in Beijing, Shanghai, Tianjin, Guangzhou, Chengdu, Harbin and Zhongshan. www.jpmorganchina.com.cn...
Originally posted by Solasis
So, are there any countries in the world that aren't in huge debt?
Originally posted by Jay-morris
reply to post by haarvik
Its funny, but since all this downgrading America has come out, there has been many threads being made about china by people who are scared because their country is going to sh*t. If you really think China can't handle their dept, then you know nothing. China situation is far better than America, and Portugal . Unlike most Countries, China plan decades ahead, not a few years ahead. They are not the oldest and wisest civilisation for nothing you know!
As America's troubles get worse, the more we will start seeing propaganda threads about China. Its just fear. Fear that you are not top dog anymore.
Originally posted by yellowbeard
There's going to be a lot of these anti Chinese threads (rants) by terrified Americans in desperate denial over the fact that they're even more screwed than the rest of the western world, I'm only seeing two answers coming from the Americans on here
answer 1; Screw the world, don't pay them
Answer 2; Nuke 'em
Neither of which are feasible and will only lead to a complete breakdown of the world as we know it.
Yeah, the Chinese warning the US to get it's financial house in order. Isn't that kind of like the pot calling the kettle black?
Originally posted by HUMBLEONE
This S & P credit rating downgrade of the U.S. Is clearly a intentional manipulation of the Worlds economy. S & P is a subsidy of McGraw-Hill Corp. It headquarters is at Rockerfeller center NYC. So why would an American Corporation deliver such a devastating and Treasonous blow to it's own Nations economy and thereby the Worlds? It has ties to Wall St. Obviously. Our economy is being manipulated again by no doubt a very small, very rich group with evil intent. The China story? It's from FOX. Ruppert Murddock. Does anyone TRUST the MSM anymore? They too are but a mechanism of control. Wake up and smell the dog sh$t everybody! PEACE.
Originally posted by Solasis
reply to post by Maxmars
Aaah... That all makes a kind of sense while also flying right over my head. Thank you.