A Quote by Jerome Powell
Emerging market economies have long grappled with the challenges posed by large and volatile cross-border capital flows.
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Emerging market and developing economies have benefited from monetary easing in major economies but have also faced volatile risk sentiment tied to trade tensions.
My view is that the U.S. market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the U.S. because for many U.S. corporations, 50 percent or more of their profits come from emerging economies.
Globalisation began what should be called the Great Convergence, creating a globalising labour market in which wages in emerging market economies slowly converge with wages in rich economies, generating a steady drop in real wages across Europe.
A pickup in demand in many advanced economies and a stabilization in commodity prices should, in turn, boost the growth prospects of emerging market economies.
The long-standing wisdom that everyone wins in a single world market has been undermined. Global trade, capital flows, and immigration are declining.
I also believe that most of the emerging economies have a fairly large amount of foreign exchange reserves, relative to 10 years ago.
So capital is in fact borderless; that's the problem. On the other hand capital has to keep borders alive in order for this kind of cross-border trade to happen. So therefore the idea of borderlessness has a performative contradiction within it which has to be kept alive.
Reverse innovation is an innovation that is first adopted in developing markets and flows uphill to mature markets. This concept directs forward-looking companies to look beyond industrialized nations to draw new ideas, products, and processes from emerging economies.
I've long loved emerging markets airlines because they usually sell at bargain prices. The troubled history of developed market airlines unfairly taints these stocks. In the emerging world, they're growth stocks.
I like the PC market. It's a big market, but it's a very volatile market as well.
Long commutes and traffic jams once associated with older, established cities such as London, New York or Tokyo are spreading throughout the world's emerging economies.
Sometimes I feel very alone. I am a bit of a nomad. Many people in sort of emerging countries, emerging economies, find themselves displaced. So there is that sense, and so I'm part of a whole, I think, group of displaced people.
The poor don't live in functional market economies as the rest of us do, but in political economies where corruption and broken systems extend from local government to moneylenders.
We stand stoutly against all forms of terrorism, and cross-border terror is a particular problem that India has. Singapore has a problem with cross-border terror, too, because we are a very small country, and it is quite possible for an attack to be mounted on Singapore from beyond our shores.
The real lesson of 9/11 that I think we have still to learn is that this is a world of interdependence, in which all of the challenges of environment and climate change, of jobs, of disease, of war and terrorism, are cross-border problems that cannot be met one nation at a time.
In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This is always a difficult task, given the temptation to over-stimulate.
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