EFTA Document EFTA01451025

II December 2013 GEM Equity Strategy Outlook 2014 China likely to be a more negative driver for GEM in 2014 Sentiment towards the Chinese economy and financial assets has once again swung wildly over 2013, because of the relative lack of transparency in terms of the underlying drivers of both the economy and the corporate sector, but the overall influence of China on the rest of the asset class has been relatively neutral. We believe that there is a significant chance of a decisive break