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Living in Hong Kong with a view of the Chinese mainland, Capital Group portfolio manager Steve Watson has a front-row seat to the long-running U.S.-China trade dispute. He’s noticed a contrast between the consensus view that China’s economy is alarmingly slow and the picture he sees walking the streets of Beijing, Shanghai, Shenzhen and elsewhere.
“As an investor, it’s useful to be based in China and see the crowded shops and restaurants,” Watson explained. “When you observe China from afar, it’s easy to imagine a country that is hunkered down, suffering from a prolonged trade war. But it certainly doesn’t feel that way in person. I think people are frustrated by the politics, but life goes on and business keeps moving forward.
Given the recent flare...
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