For EM investors, China’s renewed confidence in its technological and industrial base — set against the backdrop of a slowly recovering domestic macroeconomic cycle — offers a compelling diversification opportunity, particularly as the narrative of U.S. exceptionalism continues to come under pressure.

International Equity Investment Outlook – Q2 2025
Global indices have rallied strongly off April’s lows, ending the quarter near all-time highs, with recent geopolitical shocks failing to disrupt the sharp recovery.