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The rise of China and the decline of America
Brave New World (2011)
  • Jo Coghlan, Southern Cross University
Standard and Poor’s (S&P) have reduced America’s sovereign credit rating from AAA to AA+. The rating puts the U.S. on par with Kuwait and Taiwan. America’s $US14.3 trillion debt makes the world’s richest nation a worse credit risk than Australia, Germany, Britain and the Isle of Man. The downgrade followed the biggest weekly selloff in U.S. stocks in 32 months.
  • US,
  • China,
  • debt
Publication Date
August 13, 2011
Citation Information
Jo Coghlan. "The rise of China and the decline of America" Brave New World (2011)
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