Dr. Steinbock is Guest Fellow of Shanghai Institutes for International Studies (SIIS). He also has affiliations with think-tanks focusing on the United States, Europe and India. For more see: http://www.differencegroup.net
Despite Europe's crisis turmoil, the Swiss growth engine seems even more resilient than before - perhaps not least because it has embraced the European Union, but not the euro.
China's growth in 2016 will remain near the target of 6.5 percent reflecting structural transition in the mainland, secular stagnation in the West and post-Brexit tensions globally.
As extreme weather events are becoming a more habitual phenomenon, China is likely to pioneer ambitious experiments toward sustainable economic development.
This weekend the trade ministers of G20 shall meet in Shanghai. It is an opportunity for China to pave the way for the G20 Summit in Hangzhou in September.
What’s the lesson to investors? In the short-term, opportunism will prevail, especially in anticipation of the Fed’s rate hikes. In the long-term, fundamentals will rule the markets. And that bodes well to emerging markets.