三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

It pays to be short-sighted as a stock analyst in the fast-moving marketplace where nobody is interested in what's going to happen next as long as they can make some money now.

That somehow explains why, all of a sudden, some of the top investment gurus have turned bullish on investing on Chinese mainland assets. This stands in sharp contrast to the pessimistic assessments of the mainland economy in the past months.

The earlier scenario envisaged by foreign economic analysts was that the mainland government would allow the Chinese currency to depreciate, and those so-called "zombie" State-owned or government connected enterprises to fold. The result would have dealt a serious blow to the banking sector as the major banks would be required to charge off huge amounts of bad debts in the years to come.

Such drastic moves would, according to most foreign economists, help restructure the economy, enabling it to grow on a more solid foundation in future.

But to investors, the pain of the adjustments would greatly depress asset values, making the mainland a lousy bet in the short term.

However, to the surprise of many foreign experts, the central policymakers did play according to their script.

They stabilized the currency, preventing it from sliding in tandem with those of other emerging markets, and pumped fresh liquidity into the economy, which is showing signs of a recovery from the slowdown in previous months.

The property boom continues, at least in major mainland cities, and the stock market has stayed resilient despite flat earnings posted by banks and major industrial enterprises.

The technology sector is also booming, as reflected in the strong performances of its leading players, including Alibaba and Tencent.

Some foreign stock analysts have maintained that the economic stimulants had thwarted the much-needed restructuring, which would make matters worse in the longer term.

But that's not a view shared by Warren Buffett, the US business magnate and canny investor dubbed the "Oracle of Omaha", who was quoted as saying he was bullish on China because "it has long-term potential".

If that's the case, investing in the Chinese mainland is a no-brainer in the belief that the dreaded short-term adjustment pain can be averted while long-term growth is assured.

(HK Edition 05/09/2016 page11)