Bolton: Downbeat analysts will be left red-faced over China growth


Fidelity's veteran investor Anthony Bolton said analysts predicting a shock fall in Chinese GDP growth will be proved wrong in the coming months.

Optimism on China - and in particular its ability to deliver breakneck growth while the rest of the global economy slows - has waned this year, with mixed data coming from the region. Chinese GDP growth slowed to 7.6% in the second quarter of 2012, down from 8.1% in Q1, while in March, Beijing cut its growth target for the whole of 2012 to 7.5%. Some forecasters expect GDP growth to come in even lower - down to as little as 5% - but Bolton said this is too pessimistic. The manager of Fidelity's China Special Situations investment trust said: "The macro environment has been more cha...

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