Aug. 4 (Bloomberg) -- Patrick Chovanec, a business professor at Tsinghua University in Beijing, talks about China's Dagong Global Credit Rating Co.'s ratings downgrade of U.S. debt.
Dagong cut the nation's sovereign rating one level to A, on par with Russia and South Africa. Chovanec also discusses China's holding of U.S. Treasuries, and the effectiveness of credit ratings agencies. He speaks with Rishaad Salamat on Bloomberg Television's "On the Move Asia." (Source: Bloomberg)