China Still Looking Good for Long Term

With China’s stocks continuing to nose dive, now is not the time to trade in the market, but it is still a good long-term investment, financial expert and author John Mauldin said Monday.

“Long term, China is a place you want to be. We really have to allow Xi [President Xi Jinping] to come in and change this economy and it’s going to take some time,” the chairman of Mauldin Economics and author of a new book on China called “A Great Leap Forward?” said in an interview with CNBC’s “Closing Bell.”

Mauldin attributes his long-term bullish outlook to government accommodation, the country’s growing middle class, and the fact that there’s little else for Chinese investors to do right now.