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China Looks Cheap—but It Has Burned Investors Before

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Dec. 25, 2023 11:00 pm ET

The smartest strategy for investors in Chinese assets this year: Do something else.

Sitting on cash was more profitable in 2023 than investing in Chinese shares, buying bonds sold by Chinese companies or betting on the performance of the yuan, the country’s currency. In many cases, even throwing away 5% or 10% of your cash would have been less costly.

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