China’s propagandists tell us the Chinese economy this year will “accelerate to 4.8%.” Foreign analysts are even more bullish. Goldman Sachs estimates growth of gross domestic product of 5.5%.
China’s National Health Commission announced the end of the Communist Party’s “dynamic zero-Covid” policy on December 7. It did not take long for Wall Street to crank up the optimism machine. Morgan Stanley, on the following day, issued a research note predicting that Chinese equities would outperform emerging markets and global peers.
Since then, financial analysts have been falling over themselves to say how China’s stocks will continue to soar this year.
