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| Countries with a AAA credit rating as of January 2012. |
Standard and Poor's downgraded the sovereign debt rating of nine European nations on Friday. Those nations downgraded include France, Austria, Italy, Spain, Portugal, Slovenia, Slovakia, Malta, and Cyprus. Ireland was not downgraded and Greece is not among the nations which was under scrutiny.
Which is the nation that is spending more and more money on military? The answer is, China. Its military expense is growing by double digit. Moreover, the US is borrowing 27% of the treasury securities from China. The greatest security threat that this nation is facing now is the deficit.
On the other hand, the newly elected Taiwanese Ma insisted that Taiwan will strengthen ties with China. It has some objective to do so for many reasons. The first and foremost is Iran. Its import from Iranian oil is now threatened by the US sanctions.
The Obama Administration has improved the relations with other nations. Its corrupt ties with China, however, is not going to work well in this case. India, Turkey, and China is among those which oppose the sanctions against Iranian oil imports.