Europe’s largest French asset management company Amundi, which carries assets worth $ 2.1 trillion, attracted by the bright economic prospects of China. This is written by the Financial Times.
The company intends to gradually withdraw funds from U.S. assets and invest them in Chinese assets.
“We’ve made a clear shift from the West to the East in our allocations,” Vincent Mortier, Amundi’s chief investment officer, told the publication.
He predicts that the United States economy will not grow next year, while China, India and Indonesia will grow 5 to 6 percent.
It is noted that over the past 12 months, Amundi has gradually increased its allocation to China and India and accelerated in that direction in 2023. The company’s management is not frightened by possible geopolitical risks associated with the confrontation between the U.S. and China. They believe it will not go to extremes.