LONDON : China, the only big economy promising a growth rebound this year, is again luring foreign investors. Yet the fear that Beijing may someday end up as ostracised from global markets as Russia is keeping a lid on demand.
DoubleLine CEO Jeffrey Gundlach labelled China uninvestable because of out-of-the-blue regulatory crackdowns, forcible share delistings and a last-minute suspension in late 2020 of the multi-billion dollar initial public offering of billionaire Jack Ma's Ant Group. The United States says China has largely complied with restrictions, but last week blacklisted five Chinese companies for allegedly supporting Russia's military industrial base.
BlackRock, the world's biggest asset manager and a long-standing China bull, cut its Chinese equity view in May, warning risks of military confrontation with Taiwan will increase as the decade wears on.Investors pulled $30 billion-plus from China in the January-March period, according to the Institute of International Finance.
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