One of China’s most prominent private equity investors has warned that large parts of the Chinese economy were “paralysed” by Beijing’s anti-pandemic measures and he would diversify away from the country, the Financial Times reported.
Weijian Shan, whose Hong Kong-based PAG manages more than $50 billion, said: “We think the Chinese economy at this moment is in the worst shape in the past 30 years,” adding that it reminded him of Europe in 2008 and noting that popular discontent with the government was at a peak.
Read the full report: Financial Times
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