China: Year of the Snake Could Sizzle
From Profit Confidential
January 10, 2013 - 1:39am
Many pundits continue to criticize Chinese stocks, saying China will collapse and face a hard landing—but I’m not one of them. In fact, I’m more optimistic for 2013. The country will be under new leadership with the goal to accelerate the country’s gross domestic product (GDP) growth over the next decade, and you should be there for the ride with some Chinese exposure in tow.
The Shanghai Composite Index (SCI) closed at 3.16% in 2012, following a strong end to the year. It was the first up year for the SCI after declining 21.7% in 2011 and 14.3% in 2010. Early on in 2013, the SCI is positive, and I expect an up year if all pans out.
China has managed to avoid the feared hard landing and is showing signs that growth is coming back, albeit slowly. The country appointed a new President and Premier at its 18th National Congress of the Communist Party of China, who will lead the count...Continue reading this article »