S&P cuts China’s credit rating, says rising debt is stoking economic, financial risks

Reuters /Jason Lee/0-21-2017

“S&P Global Ratings downgraded China’s long-term sovereign credit rating on Thursday, less than a month ahead of one of the country’s most sensitive political gatherings, citing increasing risks from its rapid build-up of debt. S&P’s one-notch downgrade to A+ from AA- comes as Beijing grapples with the challenges of containing financial risks stemming from years of credit-fueled stimulus needed to meet ambitious government economic growth targets.”

USAGOLD note:  Gold demand within China hardly needs a boost but this news will provide it nevertheless.  This announcement came after Asian markets closed.

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