People don't trust China as a reliable, stable, predictable market is the problem, but the market can't argue with consistent growth, so if sales keep growing and people become more comfortable with China as a market, the SP will rise and PE multiple will expand.
It doesn't help that most investment banks think China is about to impolode under the weight of its debt...It might, or it might not? If it doesn't BKL, BAL, A2M will do very well. If it does, we are all screwed and cash will be the only thing worth holding.
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