People visit a traditional Spring Festival flower market in Guangzhou on January 20. China’s reopening and the prospect of unleashing years of pent-up consumer demand have turned markets bullish, but the strength and durability of China’s upturn remains in doubt. Photo: AFP
Opinion
Opinion
Macroscope
Frothy optimism over China’s economic recovery should be seen for what it is
- The market narrative around China is almost uniformly bullish, but look beneath the surface and the picture is quite different
- Investors have yet to put their money where their mouths are as doubts remain over domestic demand, inflation and long-standing structural challenges
People visit a traditional Spring Festival flower market in Guangzhou on January 20. China’s reopening and the prospect of unleashing years of pent-up consumer demand have turned markets bullish, but the strength and durability of China’s upturn remains in doubt. Photo: AFP
