{"id":27677,"date":"2011-08-06T19:01:50","date_gmt":"2011-08-06T19:01:50","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/china_tells_u-s-_it_must_cure_its_addiction_to_debt\/"},"modified":"2011-08-06T19:01:50","modified_gmt":"2011-08-06T19:01:50","slug":"china_tells_u-s-_it_must_cure_its_addiction_to_debt","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=27677","title":{"rendered":"China Tells U.S. It Must \u201d\u02dcCure Its Addiction to Debt\u2019"},"content":{"rendered":"<p>Though Beijing has few options other than to continue to buy United States Treasury bonds, Chinese officials are clearly concerned that the country\u2019s substantial holdings of American debt, worth at least $1.1 trillion, are being devalued.<\/p>\n<p>\u201cThe U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone,\u201d\u009d read the commentary, which was published in Chinese newspapers.<\/p>\n<p>Beijing, which did not release any other official statement on the downgrade, called on Washington to make substantial cuts to its \u201cgigantic military expenditure\u201d\u009d and its \u201cbloated social welfare\u201d\u009d programs.<\/p>\n<p><a href=\"http:\/\/www.nytimes.com\/2011\/08\/07\/business\/global\/china-a-big-creditor-says-us-has-only-itself-to-blame.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Though Beijing has few options other than to continue to buy United States Treasury bonds, Chinese officials are clearly concerned that the country\u2019s substantial holdings of American debt, worth at least $1.1 trillion, are being devalued. \u201cThe U.S. government has<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=27677\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,50,201,670,502,595,592,149,144,119,599,585,669,584],"tags":[],"class_list":["post-27677","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-international-news-commentary","category-asia","category-budget","category-china","category-credit-markets","category-currency-markets","category-economy","category-foreign-relations","category-globalization","category-stock-market","category-the-banking-systemsector","category-the-national-deficit","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/27677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27677"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/27677\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}