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

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : Moody’s downgrades China


Recommended

by NEWSROOM AI
Read More
Working abroad? New rules are coming! You're probably breaking the existing ones

Working abroad? New rules are coming! You're probably breaking the existing ones

Bruce Whitfield interviews Warren Ingram, a Personal Financial Advisor and Executive Director at Galileo Capital.

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

Dr Adriana Marais was on her way to the Red Planet. Then Mars One collapsed

The Money Show’s Bruce Whitfield interviews Marais, a quantum biology researcher with dreams to live on Mars.

'Get ready for tax levy to save Eskom, because the money is simply not there'

'Get ready for tax levy to save Eskom, because the money is simply not there'

Eskom has so much debt it threatens to break South Africa. Bruce Whitfield interviews Dr Adrian Saville of Cannon Asset Managers.

Meet Abel Sithole, the man in charge of R1.6 trillion in Government pensions

Meet Abel Sithole, the man in charge of R1.6 trillion in Government pensions

The Money Show’s Bruce Whitfield interviews Abel Sithole, Principal Executive Officer at the GEPF, Africa’s largest pension fund.

5 strategies for keeping calm when Eskom sheds a load (by Prof Renata Schoeman)

5 strategies for keeping calm when Eskom sheds a load (by Prof Renata Schoeman)

Psychiatrist Renata Schoeman has tips and tricks to help you cope without blowing a fuse.

Cheekily named load shedding app EskomSePush goes from 2500 to 400 000 users

Cheekily named load shedding app EskomSePush goes from 2500 to 400 000 users

It’s now the most downloaded IOS app and 2nd most downloaded Android app in SA. Bruce Whitfield interviews co-founder Dan Wells.

Popular articles
Traffic congestion: Capetonians spending 75% more time in vehicles

Traffic congestion: Capetonians spending 75% more time in vehicles

Cape Town has the worst congestion levels in the whole of South Africa.

DStv subscription price hikes for 2019

DStv subscription price hikes for 2019

MultiChoice will increase the prices of certain DStv packages from 1 April.

'Bring back skilled engineers to Eskom' - Solidarity

'Bring back skilled engineers to Eskom' - Solidarity

Trade Union Solidarity says it supports Pravin Gordhan's idea that technicians who used to work for Eskom should be brought back.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.