But Mister Zoellick also said it was important for other big economies to deal with their own budget imbalances.
ROBERT ZOELLICK: "The downgrade of America from triple A didn't affect the finances today, but it may be one of those events people look back on 10 years from now and say, 'Did they get the warning? '"
In August, the United States had its credit rating cut from the highest level, triple A, to double A plus. The move was widely blamed on the failure of American lawmakers to agree on details of budget cuts to reduce deficits.
In business news, the largest publicly traded technology company, Apple, lost its chief.
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Steve Jobs brought the world the iPhone, iPod and iPad. He stepped down in August because of health problems. He helped make Apple into one of the world’s most valuable companies. Steve Jobs died of cancer in October at the age of fifty-six.
Protests for political freedom swept North Africa and the Middle East in the Arab Spring. But protests over budget cuts and jobs were heard around the world.
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Protesters hold a candlelight vigil outside the China Liaison Office in Hong Kong in support of the Wukan villagers in December.
In the United States, activists in hundreds of cities protested economic inequality and joblessness. Protestors were angry that banks got rescued with taxpayers’ money during the financial crisis nearly four years ago. But many Americans continue to face hardship.
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2013-11-25
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