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Our views on China’s policy finetuning
We debuted our standalone China asset views in our Midyear 2021 global outlook, as we believe it is time to treat it as an investment destination separate from emerging markets (EM) and developed markets (DM). China’s policymakers have held a hawkish stance since mid-2020; China’s economy returned to its prepandemic growth trend in late 2020, as shown in the chart. In recent months growth has shown signs of slowing, though last week’s data was largely positive, with better-than-expected June activity data and slower-than-expected secondquarter GDP growth. This may have given Beijing the incentive to frontload ... (full story)