NEW YORK--(BUSINESS WIRE)--This week's edition of Inside Credit features James McCormack, Fitch Ratings' global head of sovereigns, take on China's response to recent market volatility.
Much of the criticism surrounding Chinese policy responses to the equity market sell-off is based on misconceptions that officials don't fully understand how markets operate, are manipulating the market, or have not yet developed policy channels and tools that are sufficiently sophisticated and adept to affect the market.
"Instead, China's responses show that it values stability, provided primarily by the state, above market principles where necessary," says. Mr. McCormack. "Moreover, policymaking will continue to include a large number of participants under the ultimate guidance of the country's political leaders, possibly appearing disjointed and ineffective at times."
Other topics covered in this week's edition of Inside Credit include:
--Greek Banks to Test BRRD's Discretionary Powers
--'Reverse-Yankees' Set Europe Corporate Issuance on Record Path
--Operational Enhancements Reducing Fraud Risk in U.S. Mortgages
--Record Year for Canadian Covered Bonds
--PREPA Restructuring Probable, Cash Flow Concerns Remain
--Stable Performance in Europe SME CLOs
--Weak Governance Factored into Malaysia's Rating
--Fitch's Global Sovereigns Conference Comes to London & New York Next Week
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