(AF) Star investor Cathie Wood said her Ark Invest fund had greatly reduced its China exposure because social engineering by the government meant the nation’s markets were now “quite different,” the Financial Times reported.
Ark is now backing only Chinese companies that are “currying favour” with political leader Xi Jinping’s so-called ‘common prosperity’ model, which has renewed focus on wealth redistribution and targeted excess earnings, the report stated. Full report: Financial Times
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