Will Emerging Markets Decouple From New York, London?
John Taylor, chief investment officer FX Concepts
The masters of the universe in New York and London, who paid themselves many hundreds of millions, or even billions, each, for their efforts in 2007, have managed to create quite a financial mess over the past year. And it will take the aforementioned masters several years to work their way out of the mess.
What kind of impact is this going to have on the rest of the world, especially on the newly successful emerging markets? Can they decouple from the financial centres, or will the reduction in dollar and hard-currency funding bring these growth stories to an end?
