While worries proliferatethat China’s tightening efforts to quell stubborninflation maytrigger a sharp slowdown ofthe domestic economy, another unforeseen calamity oc-curred in the developed world.
　　For the frst time in history, the credit rating frm Standard & Poor’s downgraded the rating on U.S. sovereign debtto AA-plus, sending a chill through global fnancial markets.
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