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 Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.