China Blames US for Debt

China criticized United Sates over debt crisis, calling Democrats and Republicans in Washington to stop blaming each other over the U.S. downgrade and find solutions.

The US debt reached their highest levels since the middle of 2009 and its stock has now fallen about 50 percent this year, the Economic Times reported.

As China is America's biggest creditor it wants US to pay back its debt. Chinese authorities are afraid that debt problems cripple US economy, which lead to a slowdown of Chinese economy. China holds trillions in U.S. debt. It has to keep buying US debtto store swelling foreign reserves, BBC reported.

According to the Spero News, Chinese media blame US inability to solve the problem saying that "disappointingly, instead of reflecting on themselves and sitting down to fix problems in a cooperated way, the Democrats and Republicans...are questioning the credibility of the downgrade ruling and blaming each other."

 US share of world's production is decreasing while other countries' share is increasing day by day. This process led to the decline of US economic hegemony in the world. Beside this, there are other reasons that should not be forgotten; US economic crisis is also rooted in US political approaches. High US military budget during America's longest war is a proof of this claim.