China drops U.S. credit rating

cnn.com

11 pointsbooz3 comments

People are used to credit ratings issued by the 'big three,' but the financial crisis has clearly proved them wrong," Guan said. "They can no longer shoulder the responsibility of rating the world."

"That's the role we are striving to play," he added.

There goes Guan Jianzhong of Dagong Global Credit Rating Co., shouldering the responsibility of rating the world.

???

That is indeed a ridiculous quote.

Before you re-iterated it here I had interpreted it as "the big three can no longer rate the world on their own" and "DGCR will add a fresh 4th voice to the rating industry".

I'm wondering if anything has been misquoted because the literal interpretation doesn't make sense.

The title of the HN post is clearly wrong and inflammatory. China hasn't done anything -- a Chinese company has changed their rating. Likely done as a publicity stunt to differentiate themselves from the big three and gain business. It's good marketing; I won't comment on if it accurate as I don't know.

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