This is one of the countries where politics matter and it is central to our assessment. Politics affects economic policy.
More Quotes from James McCormack:
Notwithstanding ongoing regional integration with China, growth in Asia remains highly leveraged to external demand, and particularly the US consumer, whom we believe to be overstretched.James McCormack
We would like public finance and development issues to be addressed by authorities, including an improvement in per capita income, before we can consider China for a ratings review and a possible upgrade.
James McCormack
When you've got credit growth that already exceeds (gross domestic product growth), that's a lot of new credit.
James McCormack
There are clear improvements in the banking sector, for example, where the legacy of directed lending is slowly giving way to a more market-based allocation of credit supported by the involvement of foreign strategic investors.
James McCormack
We've revised our growth forecast up to 5 percent for this year, based on what we saw in the fourth quarter in terms of consumption. The strength of consumption surprised us somewhat in how robust it was.
James McCormack
We are still comfortable. In a BB range, we do have some tolerance for political noise.
James McCormack
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