The Chinese economic miracle is far from over13 December 2017
“China bull” John Haynes believes that concerns over China’s growth reaching “bubble proportions” are unfounded.
While the world might have taken a “dim view” on China’s growth over the last few years, the Chairman of Investec’s Global Investment Strategy Group, a self-confessed “China bull”, believes that the economic miracle is far from over.
Talking in an interview at the recent Investec Wealth Forum in Johannesburg, John Haynes, Investec Wealth & Investment, UK, said concerns about Chinese growth reaching “bubble proportions” are unfounded. “I would only worry about the Chinese miracle running it’s course if the Chinese themselves did not have faith in the model they’ve chosen for the population. I see no evidence of that.”
Haynes comments that the “Chinese have a leader they can trust” who is delivering on his promises and increasing the standard of living overall. If this continues, he believes the “Chinese will continue to increase their influence on the South East Asian economic region”.
“The rise to power of the populist Donald Trump in the US is creating a bit of a vacuum in that part of the world which has accelerated the opportunity that China has to act as the best friend that South East Asia has in the event of troubled times.”
“Their influence in my mind is benign, not malign, and for the world economy as a whole it is a good thing if China prospers and I believe they will,” concludes Haynes.