In the next 5-10 years, investments in government or corporate debt will not be a good idea, according to the executive director of Vitosha Fund
The Chinese company Evergrande is heading for a controlled bankruptcy, which, however, will not have a serious international effect due to the small debts it has to foreign companies. The effect will be greater in China, where the government wants to restructure the economy once the real estate market is seen to be very volatile. This could slow China’s growth in the coming years. This was commented by Alexi Andonov , executive director of the Vitosha Fund, on the air of Bloomberg TV Bulgaria. “The situation with Evergrande is a ‘release of steam’ from the real estate sector, which has been developing artificially for years, with millions of homes built empty. I have no serious worries about credit markets, because the Chinese state will intervene and balance things out, “he said. Alexi Andonov is of the opinion that China’s medium-term future is not rosy. “I expect many companies to lose their profits and have an outflow from Chinese stocks. The state is trying to restructure its economy, which will slow down the rapid pace of development we are used to. It is important to see whether the state will succeed with its long-term plans to make the economy more sustainable, “Andonov. According to him, indebtedness is high all over the world and it should be reduced. Andonov believes that the next decade will have a period of negative real interest rates. “Central banks will raise interest rates much more slowly than inflation, and thus debts will be written off, so in the next 5-10 years, investing in government or corporate debt will not be a good idea,” said the fund’s chief executive. “Vitosha”. The material is not an occasion for making an investment decision! What signals do credit markets send? How will the stock market develop? Can 2022 be the year of corporate bankruptcies? What policy will the central banks pursue Watch the whole interview with Alexi Andonov in the video of Bloomberg TV Bulgaria . All guests of the show “In development” can be seen here.
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