The Great Emerging-Market Bubble
Something has gone badly wrong in the emerging economies that were supposed to shape the world's future. Although falling commodity prices, fracking, US interest rates, and other factors have been blamed for these countries' woes, the real culprit is poor policymaking, owing to weak political institutions.
https://prosyn.org/pVPzMUH
LONDON – Something has gone badly wrong in the emerging economies that were supposed to be shaping, even dominating, the future of the world. The search for culprits is under way: commodity prices, fracking, US interest rates, El Nino, China, these and others lead the field. But the answer is simpler and more traditional. It is politics.