China warns U.S. about debt default

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.

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