The US-based Fitch Ratings Associate Director Jeremy Zook was out on the wires last hour, expressing his take on the South Korean economic situation amid ongoing US-China and South. Korea-Japan trade spat.
Key Quotes:
US latest tariff on Chinese imports could shave 0.5% off S. Korea’s growth rate.
Expects another 25bps interest rate cut by end of 2019.
Escalating US-China trade war is fully reflected in S. Korea’s downgraded growth forecast for 2020.
Does not see S. Korea falling into recession.
Trade tension with Japan will have more negative impact on S. Korea than Japan.
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