The ratings agency with forecasts

  • Asia Pacific non-financial corporates show stable credit trend, but escalating trade tensions pose risks
  • Further escalation of trade tensions to not only harm growth in both China and US, it would also spill over to trade-dependent Asian economies
  • Trade tensions pose risks to large exporters of 'intermediate goods' to China where goods are assembled into finished products for shipment to US
  • In China, economic growth will likely decelerate slightly to 6.6% in 2018 from 6.9% in 2017
  • Expectation of stable credit trend supported by Moody's expectation of sustained stable global growth
  • Outlook for G20 advanced economies is positive with a growth forecast of 2.3% in 2018
  • Expects US growth to outpace that of other advanced peers of G20 at 2.7% in 2018
  • Expects an upswing in growth for emerging market countries, with G20 emerging economic growth forecast to be 5.2% at the end of 2018

more to come