U.S. Credit Rating Cut Would Threaten Asian Trade, ADB Says
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A cut in the U.S.’s sovereign ratings may weaken the dollar and make Asian goods more expensive, hurting the region’s trade outlook, the Asian Development Bank said today.
A depreciating dollar would also lead to financial losses for Asian nations who hold U.S. Treasuries, Iwan J. Azis, head of the ADB’s Office of Regional Economic Integration, told reporters in Beijing today.