Читать книгу The Emerging Markets Handbook - Pran Tiku - Страница 121

Exhibit 11 illustrates the performance of the Hang Seng Index over the last 12 years. The beginning of a bull run can be seen in 2002, which coincided with the spectacular GDP growth numbers that China put up in the beginning of the decade. We then see the crash of 2008 and the emerging market rally of 2009 that took market pundits by surprise. The choppiness that we see from 2010 coincides with market realisation that China’s growth rate will slow in the coming decades.