Big names like David Tepper and ‘Big Short' investor Michael Burry are quietly upping their bets on the Chinese economy [CNBC]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: CNBC
But billionaire investors, including Appaloosa Management founder David Tepper and “Big Short” investor Michael Burry, recently revealed they are sticking to their China bets. Contrary to popular thought, China's tourism industry has also experienced a jump this summer. It's getting late into 2024 and the world is still worried about China. From property woes to sluggish economic data, China appears to be suffering from long Covid. The country is still reeling from the effects of widespread lockdowns since 2020, showcased through weaker GDP, a struggling stock market, and high unemployment — dashing hopes of a quick post-pandemic rebound. But amid all the uncertainties, this gloom and doom view isn't shared by all market thinkers. “Everyone is so down on China. I doubt we can see surprise to the downside with what we're having coming through, but there's still so much fantastic innovation that can come from China,” BML Funds CIO Ted Alexander told CNBC 's “Street Signs Asia
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