As the world combats the coronavirus and confronts what could be an epic recession, investors need to find new sources of growth potential.
We think one answer is to look towards China - in particular, China's A-share equity markets.
Investing in China is not without risks or controversy. China and the US are embroiled in a long-running trade dispute, and the coronavirus has added another dimension to existing tensions.
The pandemic also slowed China's growth, just as it has impacted growth in the rest of the world.
From a long-term perspective, however, China's influence and economy are only set to increase, and consequently the country will attract more of the world's investment.
Now could be the time to get ahead of this trend, with a proactive allocation to China.
China's markets are open for business
China has undertaken a concerted effort to open its markets to international investors. The launch of the Stock Connect programme in 2014 facilitated access to China A-shares listed on the Shanghai and Shenzhen exchanges - representing a total market capitalisation of about $8.5trn, which is comparable to the eurozone.
In 2018, the inclusion of A-shares in two key MSCI indices - meaning that money that follows those benchmarks must buy Chinese stocks - significantly boosted inflows.
Listed companies on the A-shares indices are now required to file quarterly reports, and more than half of the largest A-shares companies have embraced global accounting standards and employed international auditors.
Greater transparency and improved governance have also helped counter the volatility that has characterised A-shares in the past, although investors should stay cautious.
China offers compelling growth stories
The A-shares market offers investors access to small- and mid-cap companies within those high-value sectors that are set to be the future drivers of China's economic growth.
Once regarded as the world's factory, China is focusing more on higher-value goods and services. With its 'Made in China 2025' initiative, it has ramped up domestic production in sectors such as biotech, automotive and semiconductors, reducing reliance on foreign suppliers.
Meanwhile, other high-value sectors, including tourism, have benefited from wider changes in Chinese society. The emerging middle class that drove the economy's pre-coronavirus growth should help fuel its tentative emergence from the outbreak, continuing China's transformation from an export-driven economy towards one with a greater focus on domestic consumption.