Elliott said he was not concerned by policy moves in China, seen by some to support the ‘old economy’, although he admitted the way they were communicated to the market had led to some uncertainty.
“Like any transition… it is government’s role to smooth and share some of the costs of that,” he said. “I think this is a normal transition outcome.”
“I think the more concerning thing has been about the communication. I think it’s fair that some people have been a little surprised… and as we know in business, people like some sense of certainty.”