Goldman Sachs Warns Against Investing In China Despite Xi Jinping’s 5% Growth Target

Goldman Sachs has strongly cautioned against investing in China despite its recent multiyear lows. Sharmin Mossavar-Rahmani, the chief investment officer of Goldman Sachs Group Inc.'s wealth-management business (in an interview with Bloomberg) says that China's substantial stock-market downturns do not warrant investment in the country. Meanwhile, China has announced an ambitious economic growth target of approximately 5% for 2024. The country's leaders have pledged to overhaul the growth model in response to considerable developmental hurdles.