A new global financial crisis has swept Asia
Standard & Poor's said Monday that a new global financial crisis sweeping through Asia has been stronger than the previous crisis, especially open countries have strong foreign markets or are still valid after the budget crisis of 2008-2009.
The institution that incurred the wrath of Washington at the weekend because of the reduced credit rating of (AAA) to (AA +) it does not expect a repeat of the credit crisis that hit markets paralyzed and the global economy recession three years ago, but warned of further cuts credit rating sovereign in Asia next time if proven wrong assumptions.
The S & P said in a statement: "If there is a slowdown of the new is likely to lead to the influence of a deeper and longer slowdown earlier, is likely to be complications of the creditworthiness of sovereign in the Asia-Pacific region more negative than in the before and that a greater number of ratings, the negative follow. "
She explained that it assumes that the institution is unlikely to result in the European debt crisis and debt problems for Washington to "sudden imbalance" in the financial systems and economies of major developed countries.
It added that on this basis, the reduction of the historical classification of the United States will not have a strong direct impact on the sovereign debt providers in the Asia and the Pacific.
She pointed to the strong domestic demand in the Asia-Pacific and the corporate sector and the domestic sector Alqoyen relatively abundant external liquidity and savings rates high despite the reference to New Zealand, Japan and Vietnam as an exception.
And adopted a Statement of Standard & Poor's tone is more pessimistic when you think about the possibility to be rosy assumptions and too much adding that Asia is still heavily dependent on exports to the West.
He said "in light of the link to global markets, any unexpected sharp imbalance in the financial markets of developed countries may change the picture", adding that U.S. and European economies may shrink or become stagnant again.
The Standard & Poor's "in this scenario, the experience of the global financial crisis in 2008-2009 demonstrate that the export-oriented economies with a large opening on the United States or Europe will feel the most obvious economic impacts, it is unlikely that things will be very different this time."
The organization revealed the names of those countries that are particularly vulnerable to the imbalance in the external capital markets such as Pakistan, Sri Lanka, Fiji, Australia and New Zealand, South Korea and Indonesia.
She also said several countries including New Zealand also continues to serve their financial state has become more constrained in responding to any new global crisis.
"It is likely to require the adverse impact on Asia and the Pacific in this scenario that governments use their budgets to support the general economic and financial sectors again.
Standard & Poor's said Monday that a new global financial crisis sweeping through Asia has been stronger than the previous crisis, especially open countries have strong foreign markets or are still valid after the budget crisis of 2008-2009.
The institution that incurred the wrath of Washington at the weekend because of the reduced credit rating of (AAA) to (AA +) it does not expect a repeat of the credit crisis that hit markets paralyzed and the global economy recession three years ago, but warned of further cuts credit rating sovereign in Asia next time if proven wrong assumptions.
The S & P said in a statement: "If there is a slowdown of the new is likely to lead to the influence of a deeper and longer slowdown earlier, is likely to be complications of the creditworthiness of sovereign in the Asia-Pacific region more negative than in the before and that a greater number of ratings, the negative follow. "
She explained that it assumes that the institution is unlikely to result in the European debt crisis and debt problems for Washington to "sudden imbalance" in the financial systems and economies of major developed countries.
It added that on this basis, the reduction of the historical classification of the United States will not have a strong direct impact on the sovereign debt providers in the Asia and the Pacific.
She pointed to the strong domestic demand in the Asia-Pacific and the corporate sector and the domestic sector Alqoyen relatively abundant external liquidity and savings rates high despite the reference to New Zealand, Japan and Vietnam as an exception.
And adopted a Statement of Standard & Poor's tone is more pessimistic when you think about the possibility to be rosy assumptions and too much adding that Asia is still heavily dependent on exports to the West.
He said "in light of the link to global markets, any unexpected sharp imbalance in the financial markets of developed countries may change the picture", adding that U.S. and European economies may shrink or become stagnant again.
The Standard & Poor's "in this scenario, the experience of the global financial crisis in 2008-2009 demonstrate that the export-oriented economies with a large opening on the United States or Europe will feel the most obvious economic impacts, it is unlikely that things will be very different this time."
The organization revealed the names of those countries that are particularly vulnerable to the imbalance in the external capital markets such as Pakistan, Sri Lanka, Fiji, Australia and New Zealand, South Korea and Indonesia.
She also said several countries including New Zealand also continues to serve their financial state has become more constrained in responding to any new global crisis.
"It is likely to require the adverse impact on Asia and the Pacific in this scenario that governments use their budgets to support the general economic and financial sectors again.
