In certain areas, India could be the new China: Analyst

Yahoo Finance published this video item, entitled “In certain areas, India could be the new China: Analyst” – below is their description.

#india #China #youtube

Apple (AAPL) made waves through Asia this week when it opened its first two stores in India. Apple is making its push into India amid rising tensions between the U.S. and China, and one analyst says we could be seeing the start of a global production shift. “Maybe in certain areas, India could be the new China,” said China Beige Book International Managing Director Shehzad Qazi. “[But] I’m not sure we want new China’s to begin with… I think CEOs are feeling a lot of political pressure that says you need to decouple from China.” Qazi elaborates on his concern about “new Chinas,” adding, “I think the China experiment tells us putting all our eggs in one basket is dangerous… I would discourage thinking India is the one main basket where everything needs to go from China.” Meanwhile, China’s economy is showing signs of rebounding from its pandemic woes, including a 10.6% year-over-year boost in retail sales and a 4.5% jump in year-over-year first-quarter GDP, but Qazi isn’t necessarily buying into the data. “We’re starting to see some pretty funky mathematics in there. A lot of the numbers are not adding up…[there] seems to be a bit of exaggeration going on.”

KEY VIDEO MOMENTS: 00:00:15 Qazi on the strategy of U.S. companies moving production from China to India

00:01:26 Qazi on not blindly buying into the magnitude of China’s economic rebound

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