Economics
Worse Than 2008? Here's What the Emerging Market Numbers Show
- Harvard’s Carmen Reinhart gives a downbeat assessment
- Exposures and vulnerabilities vary from economy to economy
UBS Says Markets View EM as `Catching a Falling Knife'
This article is for subscribers only.
Harvard economist Carmen Reinhart turned heads this week with her comments on emerging markets, saying they’re in worse shape now than during the global financial crisis in 2008.
Her assessment comes at a time when investors are turning more cautious on the asset class -- and downright bearish on markets like Argentina, Indonesia and Turkey. But opinions differ on whether the recent turbulence is just a blip or the start of something bigger. The picture also varies from economy to economy, with some in better shape than others.