Moody’s lowered the sovereign credit rating of China for the first time in almost 30 years. Analysts felt that the financial power of the country in the coming years will begin to decline
On Wednesday, Moody’s downgraded the sovereign credit rating of China from A1 to Aa3. The rating Outlook also changed from negative to stable. Thus, the rating of Moody’s, China is now near Japan, Saudi Arabia and Israel.
Moody’s downgraded the rating of China for the first time since November 1989. Then the analysts influenced the suppression by authorities of the protests in Tiananmen square.