Chinese agency downgrades US credit rating

#AceDebtNews – the end of the shut-down and the end of downgrading by Fitch, but the Chinese still want to make a point, right between Obama’s ribs!
This was picked up at Fitch – Investment and debt are closely connected and Fitch believes China has a debt problem to match its extraordinarily high investment rate. The stock of debt in China’s economy has surged to around 200% of GDP at end-2012 from 129% at end-2008 when the authorities unleashed a credit-fuelled stimulus. The agency believes no economy can operate indefinitely with a rising leverage ratio – another reason why growth is on an unsustainable path. More at this link: http://www.fitchratings.com/creditdesk/press_releases/detail.cfm?pr_id=805012&origin=home&cm_sp=homepage-_-Featured_Content_Archive-_-Rebalancing%20Central%20for%20China’s%20Sovereign%20Ratings #debt