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A summary of our recent webinar discussion between China Portfolio Manager Marco Li and Dr Ma Jun, former Chief Economist of the PBOC.
By Marco Li
The coronavirus has tightened its grip, especially in China, with some 50,000 cases confirmed and the death toll now over 1,000. As the human and economic costs spiral, we assess the potential impact of the virus, outline what the Chinese government is doing to offset this impact, and discuss the investment implications for our portfolios.
It is well understood that China’s economy is currently undergoing a great rebalancing as it shifts towards a model of consumption-based growth. However, we believe that many investors fail to grasp the implications of this transformation, which we still see as one of the most powerful and exciting investment themes in the world today. In the piece below, we outline some of the key opportunities that have arisen from China’s ongoing evolution and explain the common mistakes made by investors attempting to profit.
By Marco Li
Back in 2008, when the global economy was mired in the largest financial crisis since the Great Depression, China unleashed a gigantic stimulus package worth 4 trillion yuan. Asia’s pre-eminent economic powerhouse led the world out of the downturn, with its rapid growth sparking a global recovery that helped bring the US and Europe back to life. Ten years after China “saved the world”, it is once again confronted by the threat of flagging growth, exacerbated by trade tensions with the US. With the country standing at an important crossroads, we analyse the risks as well as the opportunities in the world’s second-largest economy, and ask whether now is the right time to invest.
By Marco Li
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