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OTTAWA — Moody’s Investors Services says three of Canada’s biggest universities would face a cash crunch if Canada’s diplomatic row with China results in the world’s most populous nation pulling its students from Canadian schools.

Tuition for international students is much higher than that charged to Canadians and has become a “crucial” source of income for schools, Moody’s says.

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China has made no moves to cut off student travel to Canada but Moody’s says there is a risk posed by the escalating diplomatic fight since Canada arrested a senior executive from Chinese telecommunications giant Huawei.

The Moody’s warning comes several months after a dustup between Canada and Saudi Arabia resulted in the kingdom yanking the scholarships of Saudi students studying in Canada.

The impact of such a move by China would be far greater, Moody’s warns in its report, because there are 15 times as many Chinese students in Canada.