#1 Chinese credit rating agency Dagong has downgraded U.S. debt from A to A- and has indicated that further downgrades are possible .... http://www.france24.com
#2 China has just entered into a very large currency swap agreement with the eurozone that is considered a huge step toward establishing the yuan as a major world currency. This agreement will result in a lot less U.S. dollars being used in trade between China and Europe .... http://money.cnn.com
#3 Back in June, China signed a major currency swap agreement with the United Kingdom. This was another very important step toward internationalizing the yuan .... http://www.cnbc.com
#4 China currently owns about 1.3 trillion dollars of U.S. debt, and this enormous exposure to U.S. debt is starting to become a major political issue within China .... http://www.cnbc.com
#5 Mei Xinyu, Commerce Minister adviser to the Chinese government, warned this week that if the U.S. government ever does default that China may decide to completely stop buying U.S. Treasury bonds .... http://www.washingtontimes.com
#6 According to Yahoo News, China has already been looking for ways to diversify away from the U.S. dollar .... http://finance.yahoo.com
#7 Xinhua, the official news agency of China, called for a “de-Americanized world” this week, and also made the following statement about the political turmoil in Washington .... http://money.cnn.com
#8 Xinhua also said the following about the U.S. debt deal on Thursday: “Politicians in Washington have done nothing substantial but postponing once again the final bankruptcy of global confidence in the U.S. financial system” .... http://money.cnn.com
#9 China is the largest producer of gold in the world, and it has also been importing an absolutely massive amount of gold from other nations. But instead of slowing down, the Chinese appear to be accelerating their gold buying .... http://www.24hgold.com
