ASIA STORIES

"It is a psychological blow that China will not take kindly to"

Moody's Investor Service has downgraded China's credit ratings for the first time since 1989, Bloomberg reports, challenging the view that the nation's leadership will be able to rein in leverage while maintaining the pace of economic growth.

China says the downgrade is based on

China says the downgrade is based on

Stocks in Shanghai and the Australian dollar slipped on the news. Moody’s reduced the rating to A1 from Aa3 on Wednesday, citing the likelihood of a “material rise” in economy-wide debt and the burden...

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