Trade war likely to be 'prolonged', denting confidence, credit rating agencies say
2018-10-13 09:46:43 source：The South China Morning Post
October 13, 2018
Credit rating agencies are becoming increasingly concerned about the potential impact of the escalating trade war between the United States and China as it looks to be more protracted and deeper than some had hoped.
In a new report on Friday, Moody’s Investors Service said that it now believes the economic tensions between the world’s two largest economies is likely be prolonged and will have “unintended consequences” for a number of American companies, including sellers of furniture, home goods and electronics.
“Industries that use more expensive imported or domestically produced inputs will be hurt,” Elena Duggar, the chairwoman of Moody's macroeconomic board, said. “Moving production chains will be costly and rising uncertainty will affect investment. The disruption will be higher in Asia than elsewhere given the region's integration in global supply chains.”
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