China and Japan PM Meet During APEC

The ratings agency downgraded its 2015 growth forecasts for many countries and regions, including the euro zone, Japan and Brazil.

Read More’Weak and uneven': IMF cuts global growth forecast

“In contrast, Moody’s expects sustained robust growth in the U.S., U.K. and India over the next two years,” she said.

By 2019, Moody’s expects the euro area economy to be 17 percent or 1.7 trillion euros smaller than it would have been had pre-crisis growth trends been maintained.

Rebuilding trust between the long-time rivals will not be easy. In signs that fundamental problems would not be resolved easily, Abe has previously said that there had been no change in Japan’s stance on the isles at the heart of the territorial dispute, while China’s top diplomat, Yang Jiechi, urged Japan to properly address sensitive issues like history and the islands.

Abe, who has not met Xi except to shake hands since taking office in December 2012, has been calling for a one-on-one meeting at the Nov. 10-11 Asia Pacific Economic Cooperation (APEC) summit.

via CNBC