China’s soft economic recovery raises contingent liability risks from LGFVs
Moody's Talks - Emerging Markets Decoded
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The Role of the Central Government in Emerging Markets
Moody's believes emerging market flows will be under pressure if China's growth recovery runs out of steam. The new big risk is the LTFB sector, which we discuss from its business model to potential spillover risks. We also take a closer look at economic prospects for China in 2023 and 2024 as well as trade linkages between China and other emerging markets.
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