USA Today has the brief story China warns U.S. about debt default.
“‘We hope the United States fully understands the lessons of history,’ Zhu said, referring to a deadlock in 2011 that led to a downgrade of the U.S. credit rating to “AA+” from “AAA” by agency Standard & Poors.
“The last big confrontation over the debt ceiling, in August 2011, ended with an eleventh-hour agreement under pressure from shaken markets and warnings of an economic catastrophe if a default were allowed to happen.”
First it was Russia telling us how to avoid war, and now the Chinese government is explaining to us how to run a capitalist economy.
How dare they? Isn’t the USA the best capitalist country in the world? Maybe not.