"There is a crack in the U.S.-centered investment environment. Growth potential is not limited to specific countries. We can find new opportunities in China and India."
Heo Seon-ho, vice chairman and CEO of Mirae Asset Securities, attended the '2025 Mirae Asset Securities Global Asset Allocation Forum' on the afternoon of the 29th at the Four Seasons Hotel in Gwanghwamun, Seoul, and said, "Over the past three years, the global financial market has heavily relied on a single engine, the United States."
Heo noted that with the return of U.S. President Donald Trump, an era of high tariffs has begun and the global trade order is being reshaped. He mentioned the situation where even though U.S. interest rates are rising, the dollar is actually weakening, saying, "Recent factors influencing capital flows are the fiscal and political trust of each country."
Heo stated, "Global asset management firm Brookfield announced it would triple its investment in India from $30 billion to $100 billion, and in April, China's BYD surpassed Tesla to claim the top spot in the European electric vehicle market," adding that this is a signal to capture and gain insight into the changes taking place beneath the surface.
Regarding the strengths of China and India as attractive investment alternatives, Heo said, "China is accelerating its technology independence with private enterprise-friendly policy changes, while India is becoming a massive consumer market based on its digital infrastructure and explosively growing population structure."
Following Heo, Park Hee-chan, head of the research center at Mirae Asset Securities, said, "The DeepSeek shock earlier this year has firmly impressed China's presence as a challenger, and it has indicated that AI innovation is no longer solely America's." He added, "The recent trend of de-dollarization and a weak dollar reflects that the excessive nationalism of the United States and its large fiscal deficits have lowered global trust."
Lee Pil-sang, head of the Asia-Pacific research division at Mirae Asset Global Investments in Hong Kong, said, "Many Chinese corporations that lead the global market have emerged not only in price and scale but also in technical and product capabilities," citing BYD, CATL, and Xiaomi as examples. He also mentioned that Jeong Woo-chang, a researcher at Mirae Asset Securities, noted that "over 800 million people access the internet through mobile devices, and 84% of the entire working-age population has transitioned to the digital economy," adding that India is also a beneficiary of the restructuring of the global supply chain.