Dagong Successfully Warned Us Debt &Nbsp, And Promoted China's Right To Speak.

This week around the world equity market The fundamental reason for this is that the international rating agency, the US standard Pool Co, has lowered the US sovereign credit rating from the top AAA level to AA+ on the 5 th. This is the first time that the US sovereign credit rating has been "downgraded", thus bringing "earthquakes" to the global capital market.

In fact, as early as 2010, Dagong, a credit rating agency from mainland China, has lowered the sovereign credit rating of the United States and warned the US debt crisis ahead of schedule.

If we regard the world economy as a sports arena, we need to formulate rules of competition first, and we need to designate a referee to carry out the competition smoothly. The rule making is often the country or region where the sport is relatively popular and relatively high. The referees may also come from these countries. Other countries can participate in these sports activities, but not much. discourse power Sometimes, sometimes even a referee is unfair when he is playing.

The same is true for economic activities. Today, with the increasing integration of the global economy, most of the rules of economic activities are developed by developed countries, and most of them are from these countries. While the emerging economies represented by China and other countries have maintained a high speed of development, their discourse rights in many economic fields are not commensurate with their economic status. If China is one of the largest importers of iron ore in the world, it has limited voice in the pricing power of iron ore imports. China is the largest creditor country in the United States, but it has little say in the credit rating of US Treasury bonds, and all powers are in the hands of the three major rating agencies.

Since Moodie gave the US AAA rating in 1949, the credit rating has not changed until August of this year, no matter what economic and financial crisis has been going through. But this is the highest. credit Grades make it easy for the United States to borrow money. In 1985, the United States changed from creditor country to debtor country, then became a net debtor country, the debt scale was bigger and bigger, and the debt paying ability was decreasing. However, the rating agencies did not disclose their credit risk changes to investors in time, and maintained the highest credit rating. This wrong rating information guided global capital flows to the United States, which provided conditions for the US government to increase its liabilities. Until now, the sovereign credit rating of the US has not been lowered, and the trillions of market value of the global stock market evaporate in a day, which has a huge impact on the global economy. In fact, the debt crisis of the United States has existed for a long time, and the three rating agencies have not made any representations. By the end of last year, standard & Poor's announced that it would be China's long term. Sovereign debt The credit rating was raised from "A+" to "AA-", which is lower than the US sovereign credit rating after the downgrade.

The 2010 national credit risk report and the credit rating of the first 50 typical countries released by Dagong in July 2010 were rated lower in the 18 countries of the United States, Britain, France, Spain, Greece and Iceland than those of the three major international rating agencies. The ratings of 9 emerging market countries including China were higher than those of the three largest rating agencies of the United States, such as Moodie, S & P and Fitch. The debt crisis of Greece, Spain, Italy and the United States since last year has proved the predictability of Dagong's rating. However, Dagong had rejected the request to enter the US market.

Dagong successfully "early warning" US Treasury bonds, raising the voice of China's rating agencies. Although it is not easy to break the monopoly of "referees" in developed countries, with the continuous improvement of the economic strength of emerging economies such as China, this step must go out and will go out.