India’s economic surge in real danger
Moody’s, an American credit rating agency released a report on Thursday which shows that India is undergoing a significant economic slowdown. Moody’s changed its outlook on India’s ratings from stable to negative. The rating agency also believes that weak economic policies, struggling financial sector and lack of job creation have contributed a lot in the recent slowdown. India’s net tax collection has hit the lowest level in the past five years, GDP growth currently stands at a six-year low level.
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US posted the worst-ever GDP plunge
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China tries to find a new economic partner in South Korea
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Chinese markets in red after the rise in US-China tensions
Chinese stocks mostly deepened losses by the close as U.S.-China tensions worsened on Friday. In mainland China, the Shanghai composite pared some losses but still ended the day 3.86% lower at 3,196.77, while the Shenzhen composite tumbled 5% to close at 2,138.36. The Shenzhen component dived 5.31% to close at 12,935.70. The Chinese yuan, a barometer of Sino-U.S. tensions, looks set for its worst week in two months
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