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O'Keefe: Cautious on China

Artisan's Dan O'Keefe believes growth in China will slow when the infrastructure and housing booms bust.

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Greg Carlson: And you can touch on emerging markets, particularly China. I think that's an area that a lot of investors have been excited about recently, including in the mutual fund world. Your funds, on the other hand, don't have a big presence there, and I wonder if you could expand on the risks that you see in that area?

Dan O'Keefe: Well I think there's an interesting phenomenon that work here; as we all know from reading the newspapers and watching TV and seeing what happened in Greece, we all know that the governments around the world, in the developed economies of the world, are under fiscal strain. They have significant budget deficits, and they've accumulated unsustainable level of indebtedness relative to their GDPs. And Greece was the first example of a government being forced by the market to actually have to retrench, to have to cut the deficit, start to reduce the amount on the debt outstanding.

Greg Carlson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.