The post-COVID reopening has disappointed, but has that disappointment and the prospect of new policy stimulus created a relative value opportunity?
The lifting of China’s last COVID-19 restrictions at the start of the year enabled me to take a long-delayed trip to Beijing, Hong Kong and Shanghai earlier this month.
It was great to catch up in person with our colleagues and clients in China, but I found that many were cautious on the economy and the market.
The contrast with sentiment at the start of the year is quite stark, so it is worth taking a closer look at what has been happening. Are China’s long-term growth prospects still exciting? Are U.S.-China relations going to drag down both countries’ growth rates? Might global allocators of capital benefit from rebalancing back into China, given current relative valuations?
You can now read the full whitepaper at the link below
