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According to a survey by Bank of America Merrill Lynch global fund managers are most worried over headwinds from China.
Big challenges in China:
- According to global investors Chinese economy is likely to slow down further and world's second largest economy might even hit recession.
- Hot money (portfolio inflows) is flowing away sharply from China. Estimates vary but all of them is quite large. According to estimates about $400-$600 billion this year has flown out of China.
- Chinese reserve is quite large, but domestic debt even larger.
- Chinese authorities struggling to stabilize country's stock market, which is down by -6.15% today.
According to the survey 2 out of 3 investors consider either China or emerging market debt as biggest tail risk.
About 10% investors are concerned over inflation and FED falling behind the curve.
In July every 1 in4 investors were worried about Greece, in August it fell to below 5%.
