Beijing-based Dagong Credit Rating Co. is China’s leading credit rating agency and, despite the limited international influence of its ratings, it keeps pumping out sovereign debt downgrades for the industrialized West.
The latest nation up… or down as the case may be… is the UK. It was already cut from its triple-A standing — as indicated by ratings from US agencies — to AA- in Dagong’s first headline-inducing ratings release. Recently, the UK has again been downgraded, this time to A+ with a negative outlook, due to its deteriorating solvency.
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How Manufacturing Jobs Could be Returning Home to the US
In 2010, China had been overtaking the US as the number one biggest manufacturer in the world. However, a recent study from the Boston Consulting Group entitled, The Return of US Manufacturing, suggests that a “manufacturing renaissance” may be afoot in the US.
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