March 22 (Bloomberg) -- China’s government will undertake more policy easing and growth of 8 percent is likely for the nation’s economy, according to Andrew Garthwaite, global equity strategist at Credit Suisse Group AG.
“For now we go with the consensus view that China will ease and growth will end up somewhere around 8 percent,” Garthwaite told reporters in Hong Kong today, without giving a specific timeline.
Garthwaite said he is underweight Chinese mining stocks and favors luxury brands such as Swatch Group AG, Nike Inc. and Adidas AG.
Premier Wen Jiabao announced at the beginning of a national lawmakers’ congress on March 5 an economic growth target of 7.5 percent for this year, down from 8 percent.
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