The abiding tale of a Chinese reopening has been about as labile as pundits’ conviction of a soft landing. In fact the two may very well be tightly correlated. Now, it seems data has finally arrived to firmly lay to rest the debate whether a reopening would show. What better time then to unwrap and examine the implications?
China is de facto reopening by now as we rightfully forecasted a few months back, but is a reopening equal to good news straight away? Not necessarily. Here is our playbook for the Chinese reopening.