News Snapshot:
Fitch Ratings assumes China’s “dynamic zero-Covid” policy will remain in place well into 2023. Mass testing and localised controls should prevent the re-imposition of economically disruptive lockdowns in 2022. However, if there is an additional pandemic-related disruption in China, it could affect the creditworthiness of other sovereigns and territories in the Asia Pacific (APAC) region through channels such as trade, tourism, and financing. Fitch said: “China is the biggest export market for most Fitch-rated APAC sovereigns and territories. It is also an important supplier of intermediate products whose availability could be interrupted, affecting regional exports. Many Asian economies have a...
