China will form the vanguard of the global economic recovery, speeding the shift of economic power to the east, according to Neptune founder Robin Geffen. Speaking at Citywire’s Cabinet event in London last week Geffen, who manages a number of mandates including the Neptune Global Equity fund, said the balance of global economic power is shifting radically. He believes the change should lead investors to shift their focus towards emerging markets. ‘In 1995 emerging markets accounted for 18% of global consumption. By 2008 this had risen to 31% and actually overtaken the US, which in 1995 accounted for 25% and now accounts for 23%. ‘The size and innovation of the US, plus its relationship with China will ensure it is one of the first economies to recover, but China is the one which sets interest rates now not the US, and I think it is China which is going to be brought rapidly to the forefront of global recovery,’ he said. Geffen added that as the balance of global demand shifts towards developing regions, the importance of China to the rest of the world can not be understated. He said: ‘The growth of China was predicted to be between 3 and 5% for the year but now the government has said it will be around 8% and anyone who disagrees with the Chinese government will be proved wrong. Global growth is now highly dependant on Chinese industry.’