The largest foreign holder of U.S. treasuries responds to the S&P downgrading by calling for decreases in U.S. military outlays and social spending.
By David Pierson Los Angeles Times Staff Writer
August 6, 2011, 1:52 a.m.
Reporting from Beijing— China called on the United States to “cure its addiction to debts” and “learn to live within its means” in a searing commentary published Saturday by the official New China News Agency in response to Standard & Poor’s historic downgrading of the U.S. government’s credit rating a day earlier.
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