The United States lost its top-tier AAA credit rating from Standard & Poor's, drawing a blast of criticism on Saturday from its biggest creditor China and deepening investors' alarm over the euro zone's debt crisis.
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?We have total confidence in the solidity of the American economy,? Baroin told French radio.
China was quick to jump on Standard and Poor's (S&P) historic downgrade of U.S. debt.
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China roundly condemned the United States for its "debt addiction" and "short sighted" political wrangling and said the world needed a new stable global reserve currency.
China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the "good old days" of borrowing were over.
China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the good old days of borrowing were over.
China's commentary which came after credit rating agency Standard & Poor downgraded U.S credit rating from a top-notch AAA to AA+, harshly criticized U.S for its "debt-addiction" and short-sightedness of politicians.
The U.S. lost its AAA credit rating from Standard and Poor's for the first time in history, dealing a symbolic blow to the world's economic superpower. The impact of this downgrade is a matter of speculation.
The United States lost its top-tier AAA credit rating from Standard & Poor's, drawing a blast of criticism on Saturday from its biggest creditor China and deepening investors' alarm over the euro zone crisis.
China, the largest creditor of the world's sole superpower, hit out at the United States for its "debt addiction" and "short sighted" political wrangling in response to Standard & Poor's historic decision to downgrade the U.S. credit rating from AAA.
China roundly condemned the United States for its debt addiction and short sighted political wrangling and said the world needed a new stable global reserve currency.
China on Saturday condemned the short-sighted political wrangling in the United States over its debt problems and said the world needed a new global stable reserve currency.
Chinese economists said the U.S. credit rating downgrade by Standard & Poor's poses great risk to financial markets and expect it to prompt China, the world's biggest holder of U.S. Treasuries, to accelerate the diversification of its holdings.
At a time when multiple fake Apple stores have been uncovered in China, Apple turned its attention on retail stores in the Chinatown section of Queens, New York, that sell cases and other accessories for Apple products like the iPhone, iPod and iPad, with a trademark lawsuit.
Apple Inc has won a temporary restraining order and preliminary injunction against several retail stores in the Chinatown section of Queens, New York, that sell cases and other accessories for Apple products, including the iPhone, iPod and iPad.
