Top investor makes contrarian call as trade uncertainty grips Wall Street (via TradingNation)
The Dow tumbled more than 200 points on Tuesday morning as pressure increased heading into the high-level negotiations. The Trump administrationon Monday and is reportedly considering limiting government pension investment in Chinese stocks.
"Because of trade, there's been tremendous amounts of monetary and fiscal stimulus injected into the Chinese economy. Now, unless you believe that Economics 101 doesn't work anymore, which I would argue is incredibly bearish, then you should start to look for signs that the economy is beginning to turn," the CEO of Richard Bernstein Advisors told CNBC'sChinese GDP declined in the second quarter to 6.2%, down from 6.7% in the three months to June 2018.
The Conference Board's Leading Economic Index for China increased by 1.1% in August. It rose by the same amount in July.
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