Market veteran Howard Marks cautions that China's economic growth target is a ‘Herculean challenge' [CNBC]
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Source: CNBC
“I'm still optimistic on China's long term possibilities, as long as they execute well and as long as they remain constructive with regard to the rest of the world,” the co-chairman of Oaktree Capital Management said. China has set a growth target of “around 5%” for 2024, but experts have said the world's second-largest economy will likely fall short of this goal. Veteran investor Howard Marks said he was hopeful about China's economy, but cautioned that the country's growth target was a monumental challenge. “I'm still optimistic on China's long-term possibilities, as long as they execute well and as long as they remain constructive with regard to the rest of the world,” the co-chairman of Oaktree Capital Management said. Marks told CNBC's Emily Chan on the sidelines of the third Global Financial Leaders Investment Summit hosted by the Hong Kong Monetary Authority that “Even though the growth rate they [China] are targeting sounds modest compared to their history, it's still
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