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Fidelity Answers: The Investment Podcast
The Investor's Guide to China: In conversation with Louis-Vincent Gave (#25)
Oct 25, 2023
Louis-Vincent Gave, founder and CEO of Gavekal, joins Catherine Yeung in Hong Kong to discuss China's AI landscape, the bond market, and the internationalisation of the renminbi. They explore topics such as China's real estate reliance, the rise and fall of Chinese dominance in AI, opportunities and challenges in the AI ecosystem, China's diversification away from US flows, and potential investing opportunities.
30:39
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Quick takeaways
- China's shift from exporting low-value-added goods to higher-value-added goods has led to a trade surplus and a new wave of globalization that doesn't involve the Western world.
- China's bond market has been a stable and good performing asset class, outperforming US treasuries and creating potential challenges for the US dollar's global dominance as global trade opens up to more currencies and funding options.
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China's Divergence from the West
China's divergence from the West has increased on many levels, particularly in terms of investment flows and supply chains. While factories have moved from China to other countries, China has also made efforts to de-westernize its own supply chains. China has shifted from exporting low-value-added goods to higher-value-added goods, leading to a trade surplus and taking over emerging markets. This represents a new wave of globalization that doesn't involve the Western world.
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Listen to the best highlights from the podcasts you love and dive into the full episode