Market veteran Howard Marks cautions that China's economic growth target is a 'Herculean challenge' [MSNBC.com]
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Source: MSNBC.com
Key PointsHoward Marks, co-chairman, Oaktree Capital.Courtesy David A. Grogan | CNBCBillionaire 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 Tan 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 very much above average for for the rest of the world, and will represent a Herculean challenge."Bank of America and CitigroupThe World Bank has pegged China growth in 2024 at 4.8%, and expects it todecline furtherThe World Bank cited headwinds such as sluggish Chinese consumer spending, a
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