Well, obvious in Europe and Asia, apparently not obvious in America. 
Simply study what has driven the change over the last 10yrs, same drivers going forward. There are 4.4B people in Asia, and they are still entering the developed country phaseâŚincomes shoot up, country gdp shoots up, market cap shoots up, etc. Meanwhile the US has entered the stagnation/decline phase. Everyone knows this is the century of Asia, except the USA.
when will my A shares come back? 
But the stock prices already reflect 7% growth assumption or whatever. What matters is not that the countryâs economy will grow, but how much it will grow relative to the assumptions.
Not really, thatâs just the way Western CFA-types think, and project that thinking on this market. As the market demographics mature, and valuations become something the market participants actually think about, then youâll have a huge upward adjustment.
^Whatâs your deal with stereotyping? Are you inherently bigoted? You do realize, even if accurate, there is a distribution around the mean, and the stereotype means little on an individual basis. Because America is the most successful and innovative nation the world has ever seen, doesnât mean we are all wonderful. Because some groups of people have small phalluses, doesnât mean all of them are insecure.
Whatever.