Emerging economies are decoupling from China, helping them stay strong despite rising interest rates, market veteran says
Emerging markets are proving to be resilient and less vulnerable to higher interest rates, while facing fresh opportunities after decoupling from China, Ruchir Sharma wrote inDue to the recent weakness in China this year, Wall Street largely expected most other emerging economies to follow, he noted. Meanwhile, rate-hiking cycles in the 1980s and 1990s triggered crises in emerging markets, and analysts expected the latest tightening campaign to produce a similar results.
Many developing nations entered 2020 with improved fiscal discipline and stronger banking systems compared to prior decades, Sharma said. Sharma also noted that inflation in developing economies typically outpaces what developed economies experience, but they are about even today."That has not happened in four decades."
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