Year of the Dog: The prospects for China's economy and equity market in 2018

'Consumer power'

Jian Shi Cortesi, portfolio manager for China and Asian equity strategies at GAM, takes a look at China's progress as the country transitions to a consumer-driven economy and prospects for Chinese equities in the Year of the Dog.

China's transition from its 'old' economy to the new version - a consumer-and-innovation-driven model, continues to move at a speedy pace.  To put the scale of change into context, back in 1999, the average annual wage in China was only the equivalent of $1,000. The economic growth model then was based on low-end manufacturing and large-scale construction of factories, houses, roads and bridges.  China Special: Asia ex Japan ex China - the biggest asset allocation decision of the next decade? But as the country's growth model changed and its economic star began to rise, the aver...