The Dragon Awakens
An important transition is taking place in China’s financial markets and economy as both increase in global relevance.
The result? Lower but more sustainable growth. With an expanding middle class and further urbanization, expect the Chinese economy to be increasingly driven by household consumption and the service sector.
Recent efforts, including the launch of stock and bond connect programs and the lifting of restrictions regarding foreign ownership in the financial sector, demonstrate China’s desire to open its capital markets.
Get more analysis from Mark Haefele, UBS Chief Investment Officer, Global Wealth Management, in UBS House View.