Summary: In many different emerging markets, the economy has unexpectedly weakened. We are seeing downturns everywhere from Mexico and Brazil in Latin America to Indonesia, India and Thailand in Asia. At this point there is no common thread on why the weakness is so widespread but the most troubling country is India.
I am combining today's commentary with a bunch of articles from the links to highlight the situation in EM. All of the news flow coming out of EM is negative. We are seeing actual falls in GDP not just a fall in GDP growth in Mexico and Thailand for example. But India is where the crisis is reaching epic proportions. The currency has hit another record low amid widespread reports of central bank intervention. Meanwhile both bond and equity markets in Ind...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.