China Issues Harsh Assessment of US Debt Deal

merica’s largest overseas creditor wasn’t exactly blown away by the deal Congress struck to avoid a potential default.
“[P]oliticians in Washington have done nothing substantial but postponing once again the final bankruptcy of global confidence in the U.S. financial system,” government-run Chinese news agency Xinhau Thursday.

Wednesday’s vote, the commentary said, “was no more than prolonging the fuse of the U.S. debt bomb one inch longer.”
And a Chinese credit rating agency Dagong downgraded the United States, saying the deal did little to change the outlook for the country’s financial condition.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza