Exports, while slowing, are “not disappearing,” Mobius said in an interview with CNBC on Tuesday. “They are still very, very big and I am quite optimistic China will continue to power ahead,” he added.
Mobius says a very pessimistic view would put China’s GDP growth at 5 percent for the current year, which is still “five times more than the U.S.”
“They are not landing, they are continuing to fly and chances are growth would be better than that. It'd be more like 7 percent,” he said.
Faltering demand from China’s two biggest customers – the European Union and U.S. – caused Chinese exports to post just one percent growth in July from a year earlier, the poorest showing since January, when exports fell. A Reuters poll had expected exports to grow 8.6 percent in July.
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