Posted 12/5/2023, 8:52:04 AM
Moody's Cautions China on Bailouts, Slower Growth
- Moody's issued negative outlook for China's financial health, concerned about cost of bailing out local governments & businesses
- Moody's warned of slower economic growth in China & shrinking property sector
- China's Ministry of Finance expressed disappointment, said economy resilient & local budgets could withstand revenue losses
- Moody's reaffirmed A1 rating for China, negative outlook a caution that rating may not be sustainable
- Article written by Keith Bradsher, Beijing bureau chief who has lived and reported in China through the pandemic