China is not immune to the woes plaguing the global economy, but slowing growth could be good for its overheating economy according to Francis Cheung, head of China and Hong Kong strategy at CLSA.
As the government tightens its fiscal policies and exports continue to fall, the bearish mood in China is even casting a shadow over once-bullish equity markets. But Cheung is nevertheless upbeat. “Sometimes tightening policy is not good for markets, but actually good for the economy,” he said yesterday, speaking at the annual CLSA Investor Forum in Hong Kong. “It was really a bad thing for China to grow by 14% in 2007, and the new...
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