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Alternative Market Briefing

Three misconceptions you might have about China

Wednesday, December 21, 2016

Matthias Knab, Opalesque:

Brendan Ahern, Chief Investment Officer at KraneShares, writes on Harvest Exchange:

At KraneShares, our goal is to educate investors about developments in China’s economy. Through our experience we have noticed there is a lot of outdated or inaccurate information about China that is frequently reported by the media. We believe the imbalance between these biased media reports and the reality of China’s growth story may present an arbitrage opportunity for long-term investors. In order to illustrate this point, we have compiled the three most common misconceptions about China that we have encountered and provided our responses to them.

Misconception 1: China is full of "Ghost Cities"

Stephen Roach, former Morgan Stanley Chief Economist and Senior Fellow at Yale University’s Jackson Institute for Global Affairs, once said that China’s modernization is "the greatest urbanization story the world has ever seen" and that ghost cities will soon become "thriving metropolitan areas1." Regardless of what Mr. Roach, and many other China scholars, have said the notion of widespread Ghost Cities in China has persisted with many US investors.A 2013 news report from "60 Minutes" titled "China’s Real Estate Bubble" bears much of the responsibility for spreading this misconcept......................

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