穆迪：关税和贸易不确定性增加了亚太地区的信用风险

Core Viewpoint - Moody's has downgraded the sovereign credit outlook for the Asia-Pacific region from stable to negative due to increased tariffs and global trade uncertainties [1] Group 1: Credit Risk Implications - Tariffs have introduced long-term credit risks for some Asia-Pacific economies, diminishing their attractiveness and suppressing foreign investment [1] - Increased fiscal spending may be necessary to stimulate economic growth, potentially slowing or halting fiscal consolidation efforts [1] Group 2: Revenue and Deficit Concerns - Revenue declines, particularly for trade-intensive countries, will further limit fiscal flexibility, while expanding deficits will increase borrowing demands [1] - If trade negotiations significantly reduce tariffs, Moody's may revert the outlook back to stable [1] Group 3: Future Scenarios - Escalation of tariffs, significant widening of spreads, or prolonged geopolitical conflicts will worsen the situation [1]