China’s economic model is “washed up on the beach” and “not going to take off again,” which will have a big impact on global markets, says veteran investor David Roche.
. The Chinese embassy did not immediately respond to CNBC's request for comment.
Along with the various crises engulfing developing markets, from Latin America to Russia to Niger and the Sahel region in Africa, Roche said that a big downside risk that markets have yet to price in is that profit margins will need to be squeezed in order for developed markets in the West to bring inflation down sustainably.
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