“It’s a trade rather than an investment.” This is how a portfolio manager framed their purchase of Chinese equities on a recent Bloomberg show.
It is consistent with a notable shift in the consensus view on foreign investments in China in recent years – from being a destination for long-term investments to more of a short-term speculative stop.
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Financial Times
Mohamed A. El-Erian, is president of Queens’ College at the University of Cambridge and a professor at the Wharton School of the University of Pennsylvania
