MIKE SELL

By MIKE SELL

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China: Leading the global recovery? – April 2020

  • China was the first to suffer with coronavirus, and we expect China will be the first to exit the crisis
  • Although China is a major global manufacturing hub, exports only account for 20% of GDP and domestically driven demand is more important
  • Government stimulus has already been significant, but the incremental nature of the announcements has led to an underappreciation of the magnitude of the package
  • China is the largest part of our portfolios, representing 29.7% of Alquity Asia and 28.4% of Alquity Future World. We are invested predominantly in domestically-driven stocks
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