Will emerging markets come back?

The developed world never ‘decoupled’ from emerging markets, and this is likely to cause new degrees of problems in the next two or three years.

Watching the news on television, especially events unfolding in the Ukraine, leaves me with a sense that we haven’t figured out how to manage these pressures. The recent rout in emerging markets has left a lot of people very confused about the direction in which the global economy, and developing countries more specifically, are going, but it turns out that once again we should not have found recent events at all surprising. They are part of the globalisation cycle.

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