If a ratings agency is willing to assign a AAA rating to a load of synthetic rubbish, then perhaps it’s downgrading of a country’s debt by 4 notches to ‘junk’ is a good sign! China obviously thinks so. Ok, it’s not necessarily Greek debt that China is investing in but some major infrastructure projects. Nevertheless, this is certainly a good way to make friends and influence people especially if you’re worried that the cash you’re holding (USD) may be worth a heck of a lot less very soon if the revaluers and devaluers have their way.