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Russia Overtakes China in BofAML Ranking of Top Emerging Markets

  • China loses ground on debt indicators, reserve adequacy
  • Russia’s fiscal, leverage indicators ‘among the strongest’
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Photographer: Andrey Rudakov/Bloomberg

When it comes to fundamentals in emerging markets, China is on a downward slide, while Russia is making a comeback. South Africa and Turkey have already hit the bottom.

That’s according to Bank of America Merrill Lynch’s latest ranking of developing-nation economies based on financial stability scores for everything from growth and inflation to fiscal vulnerability. Russia overtook China for the first time since the ranking began in 2009, to sit closely behind South Korea in second place.