Mark Mobius sees India as best investment alternative to China with most economic opportunity
When asked about the best investment alternative to China with economic opportunity, Mobius believes it is India. He said, ‘India number 1, you got a billion people, they can do the same thing as the Chinese can do.’
PremiumAmerican-born German emerging markets fund manager, Mark Mobius believes India number 1 investment alternative with economic opportunity. He believes that India can do the same thing as the Chinese can do. Mobius' statement comes in an interview with Fox Business where he talked about investment in China but also how he along with other investors are affected by this country's strict government rules.
Mobius told Fox Business that the bottom line is that China is moving in a completely different direction when they started the reform program.
He further revealed to the news channel that he is personally affected. He has a bank account with HSBC in Shanghai and he can't take his money out. He said the Chinese government is restricting the flow of money out of the country. And he pointed out that he can't get an explanation of why they were doing this.
He said, China is putting up all kinds of barriers. He added, " They don't say: No, you can't get your money out. But they say: give us all the records from 20 years of how you made this money ... This is crazy."
The Fox Business cited a survey that revealed that the majority of the US companies say China is no longer seen as a "top 3 investment priority". When asked about the best investment alternative to China with economic opportunity, Mobius believes it is India. He said, "India number 1, you got a billion people, they can do the same thing as the Chinese can do." He added, India can do the same kind of manufacturing and so forth.
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