You might wonder whether S&P, brave though they were in openly criticising their own government, might have found the courage, and inspiration for their actions from another rating agency? It seems that if you want to see an agency on the ball, and one that is prepared to downgrade a country, you need look no further than the Chinese agency, Dagong. They were first on Japan, and, more recently, the USA. Last November, we commented extensively on the Dagong downgrading and critical commentary of US monetary policy. |
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