Financial crisis: full force of US downgrade is felt around the world
US decline leaves China tipped as next economic superpower while pressure on US bonds is set to affect eurozone crisis(visit the link for the full news article)
When India joined China in criticising the United States' chaotic handling of its hefty debts this weekend, describing the challenges facing the White House as "grave", it was the clearest indication yet that the old order had been swept away.
Until recently the US was the unassailable economic superpower, and the prospect of the White House being bossed about by the bond markets – let alone by Beijing or New Delhi – was unthinkable.
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