Emerging resistance

Summary

Emerging assets have successfully managed to overcome a turbulent year, marked by increased protectionism and fears of a sharp slowdown in the world economy.

Key points

• Key points:
• In an environment of high uncertainty and current cyclical deterioration, in which the fall in manufacturing demand is a distinctive element, a worse performance could be expected.
• The search for profitability has returned and emerging markets have benefited from it, despite negative surprises in their growth figures.
• The deterioration of debt metrics and the spread of recent political instability are matters that should be monitored.

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