Look East for investment says expert
INVESTMENT expert Robin Griffiths claims the balance of economic power is shifting from West to East, with China and India holding the global purse strings in the coming decades.
The Cazenove Capital Management strategist told an event organised by accountants BDO Stoy Hayward in Manchester that big opportunities for investment gains lie East, and also in Brazil.
With the Western economies still struggling to cope with the after-effects of the financial crisis – with something like $9 trillion needing to be “repaid or written off” in future years, the growth and best investment opportunities will come from emerging economies.
“In the US and Europe the trend is downward because the biggest-ever credit bubble burst. Banks thought it was a one way risk-less bet, but life is not like that.
“In Asia they are not in debt, they are the creditors. China is on target to become the largest economy on the planet in 16 years and India’s on target to overtake it 10 years later.”
In terms of where to invest, he said alternative energy generation, biotechnology and pharmaceuticals – “because we’re all living longer” and water purification are going to be the key sectors.
