While most of the world was looking at the S&P and the downgrade of US debt, China made a move, which is far more important towards the United States in the long run. Dagong Global Credit Rating, the major credit rating agency of China, downgraded US-Treasury’s debt from A+ to single-A.
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More on this topic China Wastes No Time in U.S. Credit Rating Downgrade (Money Morning, 8/4/11)
