China Press: Moody's China downgrade 'illogical', overstates debt - RTRS
|Mei Xinyu, a commerce ministry researcher noted in an editorial in the official People's Daily newspaper on Thursday, Moody’s downgrade of China’s credit rating is “illogical” and overstates the levels of government debt.
Moody's downgraded China's credit ratings on Wednesday for the first time in nearly 30 years.
Key Quotes:
"It is clear to see that the logic behind Moody's assertions goes against the objective facts,"
The China downgrade amounted to a "double standard" compared with how countries in Europe and the United States were treated.
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