How local Chinese brands are becoming international players

Focus on Asia income

Asian stocks, excluding Japan, outperformed the world in 2017 and there is a consensus that this momentum will carry through 2018 and into 2019.

But of course, analyst forecasts are by no means a guarantee of performance. The region has historically been geared into whatever the rest of the world has been doing because it was making products and selling them to the rest of the world. But we think this story is at an end.  Firstly, low-cost labour is no longer low-cost, especially in China, where wage growth has been rapid. How Vietnam is transforming its industries Secondly, Asia's market share of world-produced goods is so high they cannot gain any more market share. In terms of growth, China and Asia must find a new...