People walk in front of a screen showing the latest stock exchange data in Shanghai on August 22. Photo: EPA-EFE
People walk in front of a screen showing the latest stock exchange data in Shanghai on August 22. Photo: EPA-EFE
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Investors are bearish on China, but have more to fear in the US

  • China’s zero-Covid policy and property crackdown have undermined attempts to boost growth and dashed investor confidence – but at least expectations are in line with reality
  • In the US, markets are still in denial about the Fed’s determination to bring down inflation with aggressive policy tightening

People walk in front of a screen showing the latest stock exchange data in Shanghai on August 22. Photo: EPA-EFE
People walk in front of a screen showing the latest stock exchange data in Shanghai on August 22. Photo: EPA-EFE
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