China's growth has become reliant on credit stimulus and a related property bubble. This is coming unstuck. The risks to the global economy and markets are significant.

Sam Churchill, Magellan Asset Management | 2 comments | 0.50 CE

China's credit-fuelled investment growth phase is reaching its end game and new sources of growth are needed to drive the economy.

Sam Churchill, Magellan Asset Management

Recent stock market volatility demonstrates that asset price growth expectations can’t be taken for granted in China, despite intervention from policymakers. The bursting of China’s property bubble poses a major risk to the stability of China and the global economy – and a critical dilemma for investors.

Sam Churchill, Magellan Asset Management | 0.75 CE

There are a number of reasons to be optimistic about China's long-term economic future, but the short-to-medium term challenges are considerable.

Sam Churchill, Magellan Asset Management

China now has to deal with a massive excess supply of property… This is unlikely to be “just another property cycle” in China. The bursting of China’s property bubble poses a major risk to both the country’s stability and the global economy.

Sam Churchill, Magellan Asset Management | 0.50 CE