Global credit ratings firm Fitch Ratings Incorporated has reportedly declared that the economies of several Asian nations with casino gambling are being weakened due to the ‘softening global demand and uncertainty’ created because of the ongoing trade dispute between the United States and China.
The slowdowns in the economies of South Korea and Singapore have been ‘especially pronounced’ recently as both are heavily reliant on the electronics sector and are exposed to the ‘global tech cycle and the trade dispute.’
However, the financial services firm determined that the pair had retained their stable outlook with South Korea receiving a score of ‘AA-’ alongside a slightly higher mark of ‘AAA’ for Singapore.
Fitch moreover proclaimed that Macau has historically enacted ‘prudent expenditure management’ policies and holds a large reserve of cash that it estimated to be worth around 136% of the city’s gross domestic product for 2018. Nevertheless, the organization purportedly detailed that future growth may be ‘constrained’ due to high levels of volatility in addition to the jurisdiction’s ‘concentration on the gaming sector and tourism from mainland China.’
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