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|China GDP comment|
|Tuesday, 19 January 2016|
James Sinclair, partner at Clearwater International, says: “Much will be made of the fact that this is China’s weakest growth in a quarter of a century: Intense volatility in the stock market and the cycle of industrial overcapacity and sluggish external demand have had policymakers looking over their shoulder for a good while.
“But we don’t see this as the toppling of an economic giant. Instead, there is a rapidly different business environment forming in China. The overall trend for consumer spending is far from grim, and the surging middle class is at the heart of this consumption boom. While consumers are boosting demand for imported goods, there are Chinese companies working in the opposite direction, and redefining what Chinese exporters look like. With the growth of entrepreneurism and innovation in the country, we can expect to see many other Chinese companies both threaten existing industry structures and open up new spaces. By the end of the decade, we still expect China to be one of the leading cross-border investors, and given the patterns we have seen, this is a trend we see no sign of stopping.”
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