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China growth: Where do you stand?
The Chinese stock market is at its lowest level in almost five months and experts are split as to how the world’s second biggest economy is going to perform in 2014. Two China experts have given their vastly differing views to Saxo TV.
CIMB Securities’ Jim McCafferty is confident the market is going to give 20% absolute return during 2014, following a positive year for Chinese equities. Jim highlights the authorities will focus on attracting foreign investors to China and will therefore start pushing for policies that are more corporate governance friendly. Jim believes that China’s transition into a domestic-demand driven economy is the way to go.
Asia Confidential’s James Gruber disagrees. He thinks a slowdown in the Chinese economy amidst this transition is inevitable and investors need to start acknowledging the serious stress that has started showing in the country’s financial system . He believes it would be challenging even for the country to expect stable growth in the next couple of years. Jim McCafferty, however, says there is the potential to see double digit growth figures again in the not too distant future.
01:22 minutes
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