Moody’s downgrades China

Moody's Investors Service downgraded China's credit ratings.

This is China’s first downgrade in almost 30 years.

Moody’s says it expects growth to slow and debt to rise in the coming years.

The Money Show’s Bruce Whitfield interviewed Matthew Birtch, a lecturer and China expert at Gordon Institute of Business Science (Gibs).

Listen to the interview in the audio below (and/or scroll down for quotes from it).

It comes as a surprise.

Matthew Birtch, Gibs

It’s a relatively small downgrade.

Matthew Birtch, Gibs

We see a lot of state-owned zombie companies being formed.

Matthew Birtch, Gibs

The Chinese consumer is relatively unindebted.

Matthew Birtch, Gibs

China’s debt-to-GDP is becoming an issue.

Matthew Birtch, Gibs

As long as China’s economy remains centrally controlled they’ll be able to pull the levers of finance quite quickly.

Matthew Birtch, Gibs

If China doesn’t sort out its debt challenges it’ll have an impact on South Africa and the rest of the Continent.

Matthew Birtch, Gibs

When China sneezes the world catches a cold.

Matthew Birtch, Gibs

China’s economy is running very efficiently at state level.

Matthew Birtch, Gibs

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Article brought to us by Old Mutual.


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