China is oversold, says Goldman

Goldman Sachs says the gap between investor sentiment and earnings in China is the biggest it has been in more than a decade.

A multitude of concerns have overshadowed China’s prospects during 2011, including slowing growth, rising inflation, ballooning local government debt, overheating property prices and mounting bad loans among the banks. But it is not all bad news. Goldman Sachs reckons that China will be able to maintain decent growth during 2012 and 2013, despite some risks remaining.

“We think that China overall growth for next year will continue to be fairly stable and strong,” said...

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