SINGAPORE : The world's biggest factory and most populous nation has opened for business after three years, leading to a surge in demand as well as concerns it will add to global inflationary pressures. But economists say investors need not worry too much.China's swift dismantling of a zero-COVID policy h
SINGAPORE : The world's biggest factory and most populous nation has opened for business after three years, leading to a surge in demand as well as concerns it will add to global inflationary pressures. But economists say investors need not worry too much.
The slack in China's labour markets and Beijing's growth priorities will also take the edge off inflation, they say. Metals markets have already priced in some new demand, with copper futures breaching a $9,000 per tonne level last month for the first time since June. There is solace in the near absence of price pressures on the mainland too, given the moderation in economic growth and a rising domestic currency.
"There is so much spare capacity in China ... it doesn't feel like you're going to have a shortage of labour. You don't have the great resignation like you had in the rest of the world" due to the pandemic, said May Ling Wee, a portfolio manager at Janus Henderson Investors.
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