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“China’s Own Subprime Mortgage Crisis”

Credit Rating agencies have taken action on China over the past two weeks, expressing concern over the risks posed by excessive government borrowing, as Fitch cut its long-term local currency rating and Moody’s lowered its...

China Banks Post Record Profits as Rivals Stumble

Bloomberg reports that China’s largest banks posted impressive profits while their European and American counterparts posted losses: Industrial & Commercial Bank of China (601398) Ltd. posted a 29 percent increase in...

Chinese Agency Downgrades U.S. Credit Rating

Although President Obama signed a bill to raise the U.S. debt ceiling yesterday, today a Chinese credit agency Dagong Global Credit Rating Company has downgraded its credit rating for the U.S. From CNN: The Dagong Global Credit...

Chinese Credit Firm Says US Worse Risk than China

From AP: A Chinese firm that aims to compete with Western rating agencies declared Washington a worse credit risk than Beijing in its first report on government debt Sunday amid efforts by China to boost its influence in global...

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