China bears have always been around. At their core seems a disbelief a so called “communist” country could grow so fast. But with China now being the world’s second biggest economy and the largest contributor to global growth their concerns get a lot of airplay. Last year it seemed “ghost cities” were the big worry. This year it’s shaping up as debt, shadow banking and wealth management products – particularly following defaults in the latter. To be sure China is not without risk – it will one day have a bust like all countries do periodically – but concerns still look overdone.
