What’s Good for U.S.-China-Japan Leaves Emerging Markets Losers

What’s Good for U.S.-China-Japan Leaves Emerging Markets Losers

Yuriko Nakao/Bloomberg

Pedestrians walk past illuminated buildings in the Susukino district of Sapporo, Hokkaido Prefecture. Japan, the world’s third-largest economy, is trying to end 15 years of deflation-fighting by easing monetary and fiscal policies and pursuing deregulation.