Richard
Cayne Meyer remarks that China's leaders have unveiled a
series of reforms aimed at overhauling its economy over the next decade. In a
statement issued after a closed-door summit, they promised the free market
would play a bigger role.
A new committee will oversee
internal security to guard against social unrest, and farmers will be given
more property rights over their land.
The Communist Party leaders said
markets would be allowed to play a leading role. State ownership would remain a
pillar of the economy. Richard Cayne at Meyer International comments that if
China really backs these statements up with substance we are looking at what
could be the start of the next China bull run up over the coming few years.
"The core issue is to
straighten out the relationship between government and the market, allowing the
market to play a decisive role in allocating resources and improving the
government's role," the statement said, Reuters news agency reports.
Investors trends showed that
investors fled U.S. equities last week as the stock market hit record highs and
a clutch of imminent policy meetings worldwide increase economic uncertainty.
Fund flow data analyst EPFR Global
says $7bn was pulled from U.S. equity funds it tracks over the week ending 6
November and flows into global equities “heavily favoured” funds that don’t
invest the US noted Richard Cayne at Meyer International in Bangkok Thailand
The S&P 500 hit its highest ever
peak last week, before a sharp sell off toward the week’s end as worries crept
in about the how much value was left in the market.
Next year will see the global
economy grow faster than in the two years previous with developed countries
leading the way, says BNY Mellon chief economist Richard Hoey.
Hoey describes himself as being
“broadly optimistic” on the outlook for the global economy overall in 2014 and
expects both developed and emerging markets will see better economic growth
throughout the year, compared with both 2012 and 2013. Richard Cayne at Meyer International Ltd
comments that he believes the US will achieve a higher inflation because of all
the money the Fed pumped into the system through monetary easing and can easily
see much more upside to the equity markets.
However Hoey details that developed
markets will be the main driver of this expansion, implying that the fall back
in emerging market growth versus developed economies seen already this year
could be set to continue.
He says: “The outlook for 2014 I
believe is for a faster pace of global economic expansion than occurred in 2012
and 2013 and that acceleration is likely to be led by the developed countries.”
The “fading burden” of the global
financial crisis is attributed by Hoey as one of several reasons why developed
economies are likely to push ahead in 2014 along with continued stimulative monetary
policy across different developed countries.
Richard Cayne Meyer remarks that a new secular bull run is already under
weigh.
Richard Cayne Meyer originally from Montreal, Quebec Canada currently resides in Bangkok Thailand and runs the Meyer Group of Companies. Prior to which he was residing in Tokyo Japan for over 15 years and is one of the founding members of Asia Wealth Group Holdings Ltd a London, UK Stock Exchange Financial Holdings Company.
