A country of High CR
▪ A country of High CR: China
▪ RISK ASSESSMENT
Good resilience in 2009 thanks to the economic stimulus programme with a rebound expected in 2010
The economy began to slow in 2008 due mainly to domestic imbalances (overcapacity in several sectors) and policies that remained restrictive too long. Andthese domestic factors were compounded by the cont
and ratings to help produce our authoritative CR guide that Euromoney publish twice a year.
▪ Good resilience in 2009 thanks to the economic stimulus programmed with a rebound expected in 2010
▪ Persistent weaknesses: risk of overcapacity and risk of default will bear watching in 2010
▪ Strong financial position
▪ Deficiencies in the business environment
t
국제적 채무불이행
대상국의 경제와 정치상황
거시경제변수(ex. 외환보유액)와 금융동향
정부 정책 등에 관한 자료 분석
해당국 정부, 민간기업 관계자와 면담
현장실사
▪ 왜 한국에서는 FAFA가 커져도 CR이 감소할까?
-> 한국의 실물자산은 안정적이기 때문이다.
ex, 제조업, 선박산업
and volume, will determine how well industrial exports perform.
Company solvency deterioration was limited and contained
Company payment behavior has shown limited worsening centered on the transition period between 2008 and 2009. The fact that the economy enjoyed four years of strong growth between 2004 and 2007 is a factor.
PAYMENT INCIDENT INDEX
▪ A country of High CR: Ch
Chinese economy and currency regime
Chinese economy had been controlled by the central government under the planned economy regime until 1979 (Morrison, 2007). In other words, most economic conditions used to be decided by the state in accordance with its policy, not by the market forces. From 1979, however, China has been experiencing huge innovation in its economic system until the present tim