Equity markets have experienced a sharp rally since they bottomed on 10 February 2016. Yet the rally in markets seems to predominantly be based on expectations of easier monetary policy in developed markets and a revival of the debt fuelled growth model in China. As uncertainty about the long-term sustainability of China’s growth model resurfaces, we expect volatility in Asian equity markets to rise. Equally, the actions of the Chinese government may cause markets to rally sharply, at l ....