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Asia’s economic recovery amid U.S. election, COVID-19 and global uncertainty - Catherine Yeung

October 31, 2020

Investment director Catherine Yeung weighs in on opportunities across equity markets in Asia, against the backdrop of the U.S. election, COVID-19 and uncertainty in global trade.  She comments on the Chinese economy and consumer behaviour. Before the pandemic, China was a very cash driven society - nobody ever really used credit cards. Now, Chinese consumers  have moved straight to digital payments.  She explains how the Chinese economy is driven by consumption and services. Since March, they’ve had around seven V-shaped recoveries, and it's all playing out from a domestic market perspective.  But making sure there is no disruption to China’s supply chain is important as China makes up 40% of global growth, which is more than Japan and US combined.  Catherine also touches up where China is now in terms of containing the virus. They went 57 days without localized cases of COVID-19 and within five days, 11 million tests were taken. And there is a push from pharmaceutical companies in China to come out with a vaccine. She has noticed a heavy increase in the pace of containment and in the vaccination process.  Although the numbers aren’t confirmed yet, there are reports that 60,000 people have already taken an anti-virus vaccination. 

Recorded on October 23rd, 2020.