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Looking for the Next China? There’s Just One Problem

It won’t be easy to find an emerging-markets alternative to the world’s second-biggest economy.

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JPMorgan Asset's Anderson Says 'Cautiously Constructive' on China
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There’s an old Polish saying that when two people quarrel, a third will benefit. And so global investors are now looking for the country best positioned to gain from the U.S.-China trade war.

China has been good to foreign investors over the past decade. Since the collapse of Lehman Brothers Holdings Inc. in 2008, the MSCI China Index has offered an annualized 8.6 percent return.