China's rating agency, Dagong, has cut the credit rating of the United States from A+ to A with a negative outlook after the U.S. federal government announced that the country's debt limit would be increased. "The decision to lift the debt ceiling will not change the fact that the U.S. national debt growth has outpaced that of its overall economy and fiscal revenue, which will lead to a decline in its debt-paying ability"Zero Hedge
|Dagong chairman Guan Jianzhong, a paid adviser to |
China’s government, at his office in Beijing
Added: "To eat May's grain in April" Criticism from Xinhua Agency.