Robert Alster, Close Brothers, foresees a “prosperous Chinese New Year”
Robert Alster, CIO at Close Brothers Asset Management, shares his outlook for China’s economy this year.
Close Brothers Asset Management CIO, Robert Alster, talks about China’s economy this year.
Robert Alster: “The Year of the Rabbit traditionally symbolises stability, prosperity and luck, all welcome traits for investors following the last several years of uncertainty and volatility. It comes as China recently announced the re-opening of its economy, leading to widespread predictions of an economic bounce, as spending and manufacturing recovers. China’s reopening will not be a smooth ride, in the short-term it may reverse the recent slowdown in inflation as demand for goods and services will inevitably increase. But, as production levels rise supply chain pressures will then ease. However, the uncertainty around a shrinking population, plus the prospect of a surge in Covid cases as much of the population travels home for the new year holidays, is a cause for concern. We expect that the economy will rebound later in the year and will be keeping a close eye on central government decisions.”
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