Famous Wall Street investor warns that a ‘severe and unexpected’ recession in China will be ‘obvious’
October 14, 2021, 12:27 GMT
Cathy Wood stresses that the crisis unleashed by the restrictive campaigns in various sectors of the Chinese economy will have an impact on commodity prices.
According to her, the restrictive policies recently adopted by China in various sectors of its economy could bring with it a recession in the Asian giant. was expressed This week Cathy Wood, founder of US asset management firm Ark Invest.
“Really, I think lawmakers in China They start playing with fire“Six months from now we’re going to look back and say: Wasn’t it clear that there was going to be a severe and unexpected recession in China?” Wood said. The famous investor warned.
In this context, he stressed that the economic crisis launched by the restrictive campaigns in various sectors, from video games to financial companies, will have repercussions on Goods’ prices.
On the other hand, the investor confirmed optimism that Tesla, Elon Musk’s electric car company, consolidated sales in China last month despite the previous downturn in the passenger car sector.
ARK Innovation has become the Best performing US mutual fund In 2020, thanks in part to betting on companies like Tesla or Teledoc Health Inc. , which has seen growth during the covid-19 pandemic.