The Moody's downgrade of China this week has brought renewed focus to what is going on there
This overnight from Reuters:
- Record-breaking dollar bond sales from Chinese companies are steadily increasing China's weight in global indexes
- Raising concerns about overexposure among investors who track them
- Corporates' rapid move onto offshore bond markets, partly a response to the crackdown on runaway credit growth at home, highlights China's multi-faceted indebtedness, a growing worry for investors
- Overall debt is approaching 300 percent of annual economic output (GDP)
--
In China today, iron ore has opened lower, its down around 1.8% this morning
