QOTD: Citigroup’s ‘Death of Emerging Markets’ Call

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David Lubin, head of emerging market economics at Citigroup:

“The EM story is based on rapid growth, led by exports, which delivers large current account surpluses, which leads to the accumulation of foreign exchange reserves and the expansion of domestic credit…Every single element of that story is no longer true.”

is the Emerging Markets as an Asset Class concept dead and buried?

Or is this the bottom?

Source:

Emerging market sparkle begins to fade (beyondbrics)

 

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