India and China are promising alternatives for investment, says Mirae Asset VC

New Delhi [India], June 2 (ANI): India and China emerge as promising alternatives for investments, said Mirae Asset Securities Vice Chairman Heo Sun-ho while speaking at a global asset allocation forum in Seoul on Thursday, reports Korea Herald.

With the return of US President Donald Trump to the Oval Office, crack seems to emerge 'in the US-centered investment landscape'. Speaking at the summit hosted by Mirae Asset, Heo-Sin-ho said the over-dependence on the US as its primary growth engine needs to be re-examined.

"The recent depreciation of the US dollar reflects weakening global confidence, spurred by growing nationalism and ballooning fiscal deficits," Heo said, urging investors to pivot from a US-centric strategy and realign their portfolios with the shifting global innovation landscape.

The vice chairman mentioned that India is emerging as a vast consumer market, driven by robust digital infrastructure and a rapidly expanding population.

According to Heo Sun-ho, "Innovative technology that once fuelled US growth is no longer its exclusive domain."

He also cited how Chinese AI Startup, DeepSeek positioning itself as a challenger to OpenAI, alongside Chinese automobile company BYD which in April overtook Tesla in the European electric vehicle market for the first time.

According to the director and head of Asia Pacific Research at Mirae Asset Hong Kong, policy shifts in China are also creating a more favourable environment for foreign investors. He also echoed the call for a diversified investment strategy.

Recently, South Korean exports to US were down 8.1 per cent for the month of May, as compared to same month last year, weighed down by the US President Donald Trump's tariff, as it took a toll on automobile sector.

Apple supplier Foxconn is set to invest USD 1.5 billion in its India unit, Reuters reported, citing a company filing. (ANI)