As China slumps and inflation rises, it’s time to go digging for bargains

As inflation rises, you want hard assets in your portfolio, or the companies that control them. That means miners, says John Stepek. Here, he tips the best shares to profit.

As inflation rises, you want hard assets in your portfolio, or the companies that control them. That means miners, says John Stepek.

Here at MoneyWeek, we started to worry seriously about a slowdown in China a couple of years ago. We couldn't see how an economy that was so imbalanced on so many levels with rocketing property prices, huge local government debts, and an over-reliance on building bridges to nowhere could continue to grow at a rate of 8% a year (then seen as the minimum acceptable rate to the ruling Communist party).

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.