China is leading the recent economic deceleration in emerging markets.
Moody’s has downgraded Brazil’s stock exchange operator, BM&FBovespa, as well as eight banks, by one-to-three notches, reports Financial Times.
China’s decision to double the trading band of its currency has revived talk of it becoming a potential alternative to the U.S. dollar as reserve currency. However, the move will have little meaning for investors in the near term.
For a greater chance at success, stick with broad market ETFs.
Emerging economies are still growing faster than developed countries, so investors must seize the opportunities beyond Canada’s borders.
The developed world’s current woes—anaemic economic recovery, deleveraging of private sectors and shrinking balance sheets of the financial sector—will likely continue for another decade. At the same time, the dynamic emerging world will create a desirable background story.
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Nearly two centuries ago, China was the largest economy in the world, accounting for a third of global output. Today, the world’s oldest civilization, and the fastest growing economy, seems determined to regain its lost glory and assert its economic supremacy on world stage.
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Overseas investors can breathe a sigh of relief now that India’s deferred its controversial tax proposal for one year.