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My Stocks and Shares ISA may be jam-packed with dividend-paying FTSE 100 stocks but that doesn’t mean that I shy away from investing in out-and-out growth businesses too. After enduring a couple of torrid years, I see one standout compelling growth story in the years ahead.
China uninvestable
Driving the narrative behind the poor share price performance of Prudential (LSE: PRU) is that China had become uninvestable. The delayed relaxation of Covid travel restrictions between the Chinese Mainland and Hong Kong undoubtedly hurt the Asian powerhouse economy.
On top of that the country’s bubble in real estate has been unwinding. This hurt domestic imports of commodities essential for a booming economy.
Given that nearly half of all its insurance profits are derived from China and Hong Kong, its little surprise that the share price has been falling. It’s down over 40% in two…
