Gross: Investors Have to Be Concerned About China Growth

Bill Gross, fund manager at Janus Capital Management, discusses the upheaval in Chinese markets and looks at bond market stability. He speaks on "Bloomberg ‹GO›." (Source: Bloomberg)

How China's 'New Economy' Drives Global Economies
47:11 - China’s new economy is powering ahead even as old industrial sectors drag on growth. Problem is, the performance of up-and-coming industries is often overlooked in official data that’s skewed to measuring things like steel or coal output. An index being developed by investment adviser CEMB Group and Chengdu-based Business Big Data is seeking to flesh out coverage of sectors like information technology, green energy and advanced materials. It finds these and other so-called "new economy" industries now account for about a third of China’s output, with higher investment in research and development and better wages that lure and retain talent fueling their rise. Royal London Asset Management Chief Investment Officer Piers Hillier discusses with Bloomberg's Anna Edwards in London and Manus Cranny in Dubai on "Countdown."
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