No surprise here. China is in a different phase of the business cycle, the down phase.
Moody’s Investors Service cut its outlook for the Chinese government’s credit ratings, due to "growing concerns about a slowing economy, shrinking foreign reserves and a weakening currency."
The ratings agency said it lowered its outlook on China’s credit rating to negative from stable, while maintaining the Aa3 grade on its sovereign debt.
No comments:
Post a Comment