According to Bloomberg:
“The biggest threat to a revolution in emerging market trade may be the emerging markets themselves as Brazil slaps import curbs on Chinese toys, Russia claims China dumps cold-rolled steel and China keeps its currency undervalued.
The tensions may cause intra-emerging market trade to fall short of the 10-fold increase that HSBC Holdings Plc sees as the potential for the next four decades, and thus reduce its role as a driver of world growth.”
Again, I said it in the past: too much hype about “Emerging Markets” hides the underlying economic flaws. In the US, investors rushed into something without knowing it too well… I have experienced several crises in Brazil and, for one thing, they all start this same exact way: too much enthusiasm.
Full article here

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