Hours after Moody’s Investors Service downgraded China’s credit rating, the nation’s finance ministry hit back with a statement on its website saying the rating agency overestimated the economic difficulties the country faces while underestimating Beijing’s capability in reforms. The Chinese government’s quick response marked a sharp contrast to a year earlier. At a conference in March 2016, China’s former finance minister Lou Jiwei said Beijing didn’t “care too much” about ratings from international agencies when asked about a previous Moody’s change of China’s credit rating outlook. Moody’s cuts China’s credit ... (full story)