FITCH Ratings downgraded China’s sovereign rating on concerns over weakening finances and rising public debt, just one day after the US imposed higher tariffs on the country, reports Hong Kong’s South China Morning Post. The cut takes China’s long-term foreign currency default rating to ‘A’ from ‘A+’ with a stable outlook, Fitch said in a statement. China’s Ministry of Finance responded with a strong rebuke, describing the decision as biased and not reflective of reality. The cost of insuring...
https://www.seanews.com.tr/fitch-cuts-chinas-sovereign-rating-as-debt-rises/203037/