"Would very much like your take on China's credit rating downgrade for the US. Could this be the start of the Economic World War? China must fear the loss of purchasing power for the $2Tr or so in their treasury, courtesy of US federal and trade deficit spending that was key to developing their economy while we became the biggest debtor nation in the solar system. Now of course they want those dollars to retain their value so that they can execute the next step, namely buying America (and others), and they want those trade surplus $$ to keep flowing in. However, their move, warranted or not, seems to me to be destructive to both sides!"

David Fuller's view I see the downgrade as a political decision by China's state-owned credit rating agency. However, how would you or any other reader rate the USA's debt?

For some populist politicians, and especially during elections, China is cited as the source of America's economic problems. I maintain that this is disingenuous, and have often said that the USA's or any other country's problems are almost entirely homemade, short of a military invasion.

Global trade is a net gain for countries and companies which remain competitive. It is also combative. Boxers need each other to make bouts which every competitor is trying to win. If this is economic warfare, that is certainly preferable to shooting wars.