China urges US to be 'responsible' after S&P warning
BEIJING: China, the top holder of US Treasury bonds, urged the United States Tuesday to adopt "responsible measures" after ratings agency Standard & Poor's cut the outlook on US sovereign debt to negative.
S&P sent stocks plunging worldwide when it slashed its outlook from "stable" to "negative" Monday, pointing to doubts about Washington's ability to tackle looming debt and fiscal deficits -- concerns raised by Beijing in the past.
"US Treasury bonds are a reflection of US government credit and are important investment products for domestic and international institutional investors," foreign ministry spokesman Hong Lei said in a statement. "We...