Global investors are missing out as Asia powers ahead

Asian consumer-driven stocks offer better returns than overpriced U.S. tech giants

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20210430 shopping mall Beijing.JPG

A newly opened shopping mall in Beijing, pictured on Apr. 16: China is still a long way behind the U.S. on consumer growth potential. © Reuters

Joanna Kwok is co-portfolio manager of JPMorgan Asia Growth Fund.

Rising incomes in Asia will probably be one of the key investment stories of the 2020s. This is materially underappreciated by the world's growth investors, many of whom are structurally underweight in Asian equities, likely to the detriment of their own long-term returns.

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