BEIJING (AP) -- China and other governments have little choice but to keep buying U.S. Treasury debt to store swelling foreign reserves even after Washington's credit rating was cut by Standard & Poo...'s central bank, which owns $153.4 billion worth of Treasury securities, reacted skeptically to S&P's downgrade. It noted that securities that were given AAA ratings by S&P and other ratings agencies ...

... to the financial crisis of 2008. They said the start of the tumbling of shares was comparable to the global equity sell-off that occurred in 2008, which was sparked by the collapse of the leading U.S. investment bank Lehman Brothers. “Although it wasn’t a private bank that was to blame for this incident, it was the loosened financial control of the U.S. government, which makes those two cases similar,” said an industry watcher on condition of anonymity. It was noted in the past that the U.S. economic meltdown impacted the global economy to a mass...

As the twin crises in the U.S. and Europe send global equity markets plunging, investors are seeking safer destinations, particularly bonds, in South Korea. The Bank of Korea said in a report on Tue... is increasingly becoming favorable to bond markets.” The consensus, as illustrated by Wall Street’s performance on Monday, is that U.S. Treasury bonds are still the most liquid market in the world, ...

...nervous nation, President Barack Obama on Monday dismissed an unprecedented downgrade in the nation’s credit rating, insisting investors will stand by the United States even as stock markets plunged. ...of “destroying” the U.S. credit rating. Obama calmly sought to dismiss all the talk of a dent to U.S. credit. “Our problems are eminently solvable,” he said. “We know what we have to do to solve the...

...of thousands of dollars to an international charity group to help flood victims in North Korea, a U.S.-funded radio station reported Tuesday. The EU, which shipped food aid to the impoverished state ...to the official, who added the EU might provide further aid if the Red Cross asks for it. As the U.S. and South Korea remain undecided over whether to resume assistance of food and fuel to Pyongyang ...

South Korea’s Unification Ministry was the target of an attempted cyber attack, an official here said Tuesday, as the latest in the string of hacking attacks that Seoul suspects have been orchestrate...s aide who frequently emailed the ministry, according to Kim Young-pil, an official at the ministry’s cyber security center. But no damage had been caused, as the emails stored in the account of the ...

...Rep. Park Young-sun of the main opposition Democratic Party. “We shall not accept the ruling party’s plot to cut out all contacts from the opposition camp.” DP members of the committee also issued a...Sung-young of the GNP. “We will not push ahead with the acknowledgement without the opposition camp’s consent.” The committee held hearings on justice minister nominee Kwon Jae-jin and prosecutor-gen...

...s the audience. A secretariat consisting of 29 students from about 20 countries will lead the GMUN’s general assembly and subcommittee meetings on disarmament and international security, economy and ...d culture, special politics and anti-colonization. Lee Dong-yeop, sophomore at Kyung Hee University’s department of international studies, has been selected as president of the GMUN general assembly. ...

The local and central governments have come under fire for the nation’s lack of disaster readiness made apparent by the floods that ravaged the country this July. Seoul Mayor Oh Se-hoon has also dra...im they have no money,” said Rep. Baek Won-woo of the opposition party. “The total amount of Seoul’s relief fund only amounts tor 300 billion won, the city’s efforts are simply to save face.” Accord...