Kerr Neilson on China’s stockmarkets and growth rates

In an interview with the ABC Kerr Neilson says that although he’s not “unusually” worried about China he does believe it’s growing at closer to 4% than 7%. “Well all the indicators we look at, and I'm not talking about electricity or those old fashion measures, but the other measures suggest that it's growing more like 4 or so. The reason the Government is sticking to a high growth figure is a sort of confidence boosting measure as far as we can see and to some extent face saving.” When quizzed on China’s stockmarket, Neilson believes that the rout has “largely” played out “because the amount of outstanding margin credit has halved” saying there’s been “a fair clearing of the market.” (VIEW LINK)