At Least One Credit Rating Agency Gets More Pessimistic About China
S&P Global Ratings has moved from a position of cautious optimism on China’s economy to a firm conclusion that things are going from bad to worse.
Construction workers rent shared bicycles as they leave a building site for a new office tower in the Central Business District in Beijing on April 3, 2025. Kevin Frayer/Getty Images
Throughout much of the past year, economic and financial analysts at S&P Global Ratings anticipated what could be described as a gradual improvement in China’s troubled economy. But the flow of data and the implications of Beijing’s policy choices have recently led to a more pessimistic assessment.
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is “Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live.”
