Macro and Market Review
China: No Bazooka Stimulus, No Recovery
The Chinese economy will not recover without significant “irrigation-style” stimulus. The latter is still unlikely for the time being. Dim economic fundamentals justify lower valuations of Chinese equities. Lingering deflationary pressures entail even lower interest rates, which is bearish for the RMB.
BCA Research | China Investment Strategy
Global Investment Strategy, Counterpoint, Emerging Markets Strategy, China Investment Strategy, European Investment Strategy, US Investment Strategy.
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