Mexican Media Brands
Moody’s Cuts China Debt Rating
Moody’s Investor Services has lowered its rating on China’s debt by one notch to A1 on worries about the country’s rising debt and slowing economic growth.
#economics
Share
Moody’s Investor Services has lowered its rating on China’s debt by one notch to A1 on worries about the country’s rising debt and slowing economic growth.
Last month the agency changed its outlook from “stable” to “negative.” This week’s rating downgrade was Moody’s first downward adjustment for China since 1989. The country’s rating now equals that of Israel, Japan and Saudi Arabia.
China’s debt has ballooned from 149% of gross domestic product in 2008 to 253% last year, according to J.P. Morgan. The Wall Street Journal says the increase has been driven by the country’s massive economic stimulus measures in 2008-2009 and overexpansion by key industries.
RELATED CONTENT
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.