China Criticizes USA Over Debt

China who is the biggest creditor of the north American debt, demanded yesterday to United States to reduce their public expenses and face their “debt addiction” after the agency Standard & Poors reduce the classification of their debt.

According to the agency Xinhua, China has 1,2 billion dollars in US treasury funds. This agency also pointed out that the United States will have several “credit cutbacks” and a turbulent global finance if they do not learn to live with a tight budget.

Washington must reduce their “military expenses and their exaggerated costs of social welfare.” Xinhua pointed out that they must also accept the international supervision of dollar emissions.

For the first time in the history the U.S. Treasuries do not have the maximum qualification in all the agencies of financial risk. (AV)

Source: AP-AFP