The document discusses the financial outlook for Chinese materials and industrials, highlighting issues such as the need for fiscal reform in China, blurred boundaries between state and private sectors, and the risk of a debt trap. It includes figures on FCF/Sales percentages and critiques the lack of concrete measures in China's fiscal policy post-Plenum.
doj/DataSet10/EFTA01451037.pdf
{"title":"GEM Equity Strategy Outlook 2014","key_people":["Michael Spencer"],"document_date":"2013-12-11","document_type":"tabular","key_locations":["Beijing","China"],"key_organizations":["Deutsche Bank","Bloomberg Finance LP","MSCI EM index"]}