U.S. credit rating agency Moody's 11, said China's sovereign credit rating to "A1" raised "Aa3". So once again China's sovereign credit rating than Korea (A1).
Moody's rating on the issue raised by e-mail that said: "Since the global financial crisis, China's economy is rapidly recovering. China will in the future to maintain over a long period of rapid growth."
Moody's also said: "The Chinese government is promoting an effective rescue plan. The United States and China took place around the exchange rate and trade conflicts, want to be constructive management." International credit rating agency Standard & Poor's (SP) 27 Day will Japan's national sovereign credit rating from "AA" down a file to the "AA-". This is since 2002 the first Japanese national sovereign credit rating was lowered. This is because Japan's national debt next year to breakthrough in 1000 trillion yen, people worry about their financial soundness.
In this regard, the Japanese media stunned with admiration that "the Spanish than the deep fiscal crisis is even lower." Japanese Economics Minister Kaoru Yosano also expressed "regret."
Day, by the State the impact of credit rating downgrades, the yen weakened sharply in the Tokyo foreign exchange market the U.S. dollar or the yen soared to 83.20. In addition, reflecting the degree of default risk in Japan's credit default swaps (CDS) rate of 85bp (1bp = 0.01%), lower than the previous credit rating was increased by 5 basis points. In this connection, the international community paid great attention to that group of developed countries which may be open the beginning of the financial crisis.
Japanese government debt this year, gross domestic product (GDP) ratio of more than 200%, even more than a financial crisis in Greece (136.8%) and Ireland (112.7%) more serious. Japan's annual issue of treasury bonds of about 40 trillion yen, higher than the tax, but the Democratic Party of Japan but in the implementation of the Government to expand child allowances, free universities and so on welfare policy.
S & P charged that in developed countries, the highest debt ratios in Japan, but the Japanese government take to solve the deficit problem is not a consistent policy.