While Warren Buffett loads up on all-American investments, hoping to pick up a “slice of America’s future at a marked-down price”, investors elsewhere believe Asia’s recovery story will bring far better returns.
"Asia will be rebounding a lot faster than (the) U.S.,” said Craig Irvine, co-head of regional research at Daiwa Institute of Research on CNBC’s “Protect Your Wealth”.
(Watch full interview at left)
“The U.S. consumer is so leveraged up right now that they’re just not going to be a particularly strong source of demand for several years,” he said.
When asked where the recovery will be strongest in Asia, Irvine pointed out that he was “overweight” Chinese equities, as Beijing’s flexibile policies and deep pockets would bode well for the country’s job market.
“China’s probably the best overall position of any of the markets or any of the governments around the region,” he said, adding that China could simply “replace the U.S. or Europe as a major driver of domestic demand.”
Catch "Protect Your Wealth" on CNBC's Asia Pacific network every Tuesday on "CNBC's Cash Flow," Wednesday on "Asia Squawk Box" and Thursday on "Capital Connection."