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Submission + - U.S. Credit Rating Downgraded by China's Dagong (

mayberry42 writes: While the United States (arguably) managed to survive the catastrophe with a credit downgrade of the "Big Three" — and possible default on debt — it has not been so lucky abroad. The Economist reports that China's Dagong credit agency nevertheless downgraded the U.S.'s credit from A+ to A. The important question now is, how much impact will this have, especially since China is U.S.'s largest bond holder.

"All the people are so happy now, their heads are caving in. I'm glad they are a snowman with protective rubber skin" -- They Might Be Giants