Posted 12/7/2023, 12:21:00 PM
Moody's Orders China Staff to Work Remotely After Downgrade, Fearing Government Backlash
- Moody's told China staff to work from home shortly before downgrading the country's credit outlook, likely due to fear of retaliation
- Employees believe Moody's worried Chinese authorities might question or target the firm after the downgrade
- Staff in Beijing, Shanghai, and Hong Kong were told to avoid offices and traveling to mainland
- Western companies in China face increasing pressure amid rising US-China tensions
- Moody's warned stagnant growth and property crisis could leave China struggling to pay debts