Wednesday, August 24, 2011

A Chinese Perspective on the US Debt

US public is paying the price

By Liu Weidong (China Daily)

 

The US debt crisis has drawn much criticism both at home and aboard. It is inconceivable to many people that as the only superpower in the world the US was locked in a struggle that threatened to bring the wheels of state to a halt had the politicians not arrived at a last-minute compromise to raise the nation's debt limit in order to avoid a debt default.
As a country that always boasts it has the most "perfect" democratic system in the world, the US is not doing well in its domestic affairs and the debt crisis has exposed the defects rather than the advantages of its system. Even many US citizens have appealed for introspection and reform of the country's political system.

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