‘Belt and Road’ Helps China Offload Overcapacity, According to Moody’s Credit Officer
The “Belt and Road” initiative has helped China unload products made by industries suffering from overcapacity and driven forward yuan internationalization, Moody’s chief credit officer in the Asia Pacific told the 8th Caixin Summit.
Overall exports of iron and steel, areas in which China slashed 65 million tons of capacity last year, have declined globally, but “the Belt and Road countries have taken on an increasing share of current exports,” Michael Taylor said Thursday in Beijing.
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