"Excess on occasion is exhilarating. It prevents moderation from acquiring the deadening effect of habit."
Thursday, May 25, 2017
First Time In Thirty Years
China dismisses Moody's downgrade decision
BEIJING - China's Finance Ministry Wednesday dismissed a decision by international rating agency Moody's to downgrade China's credit ratings. The downgrade was based on the "pro-cyclical" rating approach which is "inappropriate," the Ministry of Finance (MOF) said. Moody's said that it had downgraded China's long-term local currency and foreign currency issuer ratings to A1 from Aa3…