China’s burgeoning bull market

Investors have plenty of reasons to be cautious at the moment, says John Stepek. But when it comes to Chinese stocks, the signs are more promising.

The global economy has been the setting for an epic tug-of-war in recent years, between the forces of inflation and deflation. Now with China devaluing the renminbi it looks as though deflation has won, says Tim Price. It's scary stuff, and I find it hard to disagree with Tim's take indeed, we've said for a long time that the most likely endgame for the post-financial crisis era would start with a deflationary scare.

However, "scare" is the important word here. Markets have a nasty habit of doing the one thing that you're least prepared for. So if we take a step back and look at what's going on, what do investors seem least prepared for right now?

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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.