Emerging markets Godfather: China's economic prospects are very bright

Night network, network nightlife Wall Street FRANCISCO 27 morning news, although China's economic slowdown, "godfather of emerging markets", Templeton Emerging Markets Group Executive Chairman Michael Park Si (马克莫比乌斯) believe that China's economic prospects It remains bright, China's emerging industries and services worth the wait。  As a major importer and consumer of commodities, China's economic slowdown is causing widespread impact on global commodity prices and commodity-exporting countries, and triggered widespread pessimism。Some economists have claimed that once the hard landing in China, and may even cause a global recession。  However, Mak Pak thinking in the latest article points out: "Although people have every reason to worry about Chinese demand for raw materials, I found that the prosperity of China's emerging industries and the service sector might be more worth the wait。Our team is mining investment opportunities for Chinese consumption transformation, wage growth and the continued growth of the middle class trend driven。"Michael Park Si pointed out that China not only consumer commodities, a growing middle class also showed strong purchasing power, is the development of new domestic industries, including beauty, entertainment (movies, music), etc.。  Michael Park by examining the thinking of the Chinese market, found that music and beauty are two broad prospects for the consumer market。At present Chinese music market is very small, digital music revenue in 2014 of about $ 91 million, and US $ 3.5 billion。But Chinese consumer demand for music is rising, while the international market is aware of this potential, such as the famous American band Bon Jovi recently turned sang Chinese song "The Moon Represents My Heart"。  Beauty is also the Chinese people after rising spending power is an important market demand。Michael Park Si in the article pointed out that China's cosmetics and skin care market is mainly occupied by foreign brands, a huge space for development of local enterprises。  "In our view, include a number of other industries, have prospects of Chinese music and the beauty industry is very bright。Although China's overall growth may slow over the past few decades, but we are not worried。We believe that China will remain a powerful force driving global growth, and have an impact on many industries in the future, "concluded that thinking Mak Pak。(Tony compilation)