SPECIAL EDITION: Investing in China
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 6 August 2021
⏱️ 34 minutes
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Summary
We are going to do something unique this week – a deep dive into the massive country that is China. From stocks to bonds to history to currency to geopolitics, this is a big topic, and we do it this week with the sole aim of determining where there may be investment opportunity for our clients, and where there may not be.
It is a topic that reveals deep passions and emotions out of many people. Our goal is to remove passion and emotion, and be fiduciary investment managers with a burden for optimizing solutions on behalf of our clients. This has serious implications when you look at Chinese stocks, or U.S. bonds.
I could make this introduction a full article if I wanted to, but let me resist the temptation to keep bloviating and ask you to dive right in. I believe it is a thought-provoking and useful summary of a few investment considerations in the fastest growing economic region in human history. And we want to get this right.
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.6 | Well, hello, welcome to a special edition of the Dividing Cafe. I am going to be talking to you all on this podcast and in this video for the next, I don't know, 15, 20 minutes, all about the subject of China and particularly about opportunities for U.S. investors in China. |
| 0:34.9 | And maybe the answer is non-opportunities. Maybe it is lovely opportunities. Maybe it's |
| 0:42.7 | somewhere in between, but we want to unpack a lot of that. It's a project I've been working on for |
| 0:47.2 | quite some time. And probably the thousand plus pages of research have already devoted to topic received another |
| 0:56.4 | few hundred pages of attention in the last week in preparation for this particular dividend |
| 1:03.1 | cafe and there's much more to be done as as you'll see in a moment but some months ago |
| 1:10.2 | I became convinced that some economists who I follow closely, |
| 1:16.2 | who I value, who I respect to their point of view and have developed a relationship with, |
| 1:22.8 | were onto something about capital flows, that there were regions of the world, economic regions that |
| 1:30.6 | were going to see less capital come in, and there were regions that were going to see more |
| 1:36.4 | capital come in. |
| 1:37.3 | And this is the story of history. |
| 1:39.4 | It's a story of economics has a lot to do with tax policy, trade policy, and the fundamentals of economic |
| 1:45.8 | growth that drive capital into different parts of the world and drive capital away from |
| 1:51.7 | parts of the world. And there's no question that China is a place that is right now a net recipient of foreign capital. |
| 2:02.9 | And a lot of that has to do with fundamental reasons that make capital want to go to China. |
| 2:09.4 | And, of course, a lot of it has to do with the fact that the newness of it, the novelty of |
| 2:13.4 | this is a newer reality for a country that has been around for thousands of years and has |
| 2:20.3 | such a rich dynastic history. The fact of matter is that a lot of these things playing |
| 2:26.5 | out on the world stage right now are brand new. Many of them, less than 25 years old, and some, to be quite honest, about five years old. |
| 2:39.4 | Okay, so there's a lot we're going to kind of unpack a bit historically here today as well. |
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