China wouldn't survive a US double-dip recession, says Permal chairman
Isaac Souede, chairman of $20 billion fund of hedge funds Permal, says China does not respect the euro and that an American double-dip recession would spark protectionism in the US.
![China wouldn't survive a US double-dip recession, says Permal chairman](https://cdn.i.haymarketmedia.asia/?n=asian-investor%2Fcontent%2FIsaacSoueedecropped.jpg&c=1&h=677&q=100&v=20242601&w=1204)
Permal, a stand-alone business in the Legg Mason group, is a fund of hedge funds with $20 billion in assets under management. Chairman Isaac Souede spoke to AsianInvestor while he was on a recent visit to Hong Kong.
How do you feel about managers who preserved capital in 2008, but then, having witnessed the advantages of being cautious, didn't switch to having a long bias at the right time last year, so didn't do very well in 2009?The test of fire is to look across both years. We had…
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