"Only China is 'the next China'," said Dina Ting, head of Global Index Portfolio Management at Franklin Templeton, in an opinion piece in the Financial Times on Wednesday.
Despite recent fluctuations in the Chinese stock market, Ting cautioned against labeling the Chinese market as a crisis.
She highlighted recent high-level dialogues between Chinese and US leaders and business figures, suggesting a positive trajectory for US-China relations. Ting noted China's advancements in key technological domains like artificial intelligence and electric vehicles, further indicating its growth potential.
Ting said the Chinese authorities have tightened the rules on the stock markets, and there are encouraging signs of coordination between China's fiscal and monetary policy.
"It's important to remember that China is still undergoing a major transition from export-led growth to a more sustainable model increasingly driven by consumption and services," she said.
Ting noted that the price valuation of Chinese stocks was comparatively cheap, while China's recent endeavor to strengthen its trade and investment ties with other developing countries has elevated its global influence.
(Source: Xinhua)
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