The Standard & Poor’s rating agency cut China’s credit rating Thursday due to its rising debts, highlighting challenges faced by Communist leaders as they cope with slowing economic growth. The downgrade added to mounting warnings about the dangers of increasing Chinese debt, which has fueled fears of a banking crisis or a drag on economic growth. Moody’s Investors Service cut its own rating for China in May.   S&P lowered its rating on China’s sovereign debt by one notch from AA- to A+, still among its highest ratings. The agency …

On the sidelines of the United Nations General Assembly in New York on Wednesday, business and political leaders around the world met to urge cooperation on such issues as trade, investment and international technology to help boost globalization. Without integration between nations, such issues as the environment, economic development and the well-being of societies suffer. VOA’s Daniel Schearf reports from New York. … From: MeNeedIt