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Dagong Global Credit Rating Co., based in Beijing, issued a credit rating report last Sunday, that covered 50 countries.The results have made headlines, after Dagong downgraded the sovereign ratings of the US, the UK, Japan and other western economies.
Some in the west said they were skeptical about the reliability of the rating report. Is there an ideological bias in the existing credit rating system? And can the Chinese rating agency, Dagong, break the West's dominance on issuing credit ratings?
- Moody's cuts Ireland's credit rating 2010-07-20
- China unveils first sovereign credit rating report 2010-07-12
- China's credit cards maintain low bad debt rates 2010-07-02