Fitch picked a heckuva day to downgrade a major economy.
- We forecast China's general government deficit to rise to 8.4% of GDP in 2025, from 6.5% in 2024
- We forecast China GDP to increase by 4.4% in 2025 from 5.0% in 2024
- Tariff rise has been much more drastic and China will still be affected by a broader tariff-induced global slowdown
China's finance ministry responded saying the downgrade is biased and cannot fully and objectively reflect the actual situation in China.
