Fitch ratings downgrades China’s Yuan sovereign credit rating

Wednesday, April 10th 2013 - 07:24 UTC

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Fitch Ratings has downgraded China's sovereign credit rating, warning about a credit build-up in the economy that could threaten the recovery. The agency cited “underlying structural weaknesses” and a growing risk from shadow banking. The downgrade is for Yuan-denominated debt, not foreign currency debt. Read full article

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ChrisR
I imagine the communists will have their own rating agency put out a disclaimer.

Well, that will clear matters up, won't it.
Apr 10th, 2013 - 08:08 pm - Link - Report abuse 0
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yankeeboy
You can tell there is a monetary imbalance whenever poor contries have condos that are higher priced $/sqft than NYC. Same thing happened in BA and now San Paulo.
It is unsupportable.
I think these Chinese are going to be very surprised and angry that they have lost 3 generations of savings on a bad real estate deal.
Very angry indeed.
Apr 13th, 2013 - 05:47 pm - Link - Report abuse 0
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