As allies rally behind U.S., China says ‘good old days’ of borrowing are over

China bluntly criticized the United States on Saturday one day after the superpower’s credit rating was downgraded, saying the “good old days” of borrowing were over.
Standard & Poor’s cut the U.S. long-term credit rating from top-tier AAA by a notch to AA-plus on Friday over concerns about the nation’s budget deficits and climbing debt burden.


China — the United States’ biggest creditor — said Washington only had itself to blame for its plight and called for a new stable

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