My take on China

ON EMs

Stock markets globally recorded their worst monthly performance for 2012 in May.

During the month, the MSCI Emerging Markets index recorded a decline of 11.2%. The on-going debt crisis in Europe remained at the forefront, as speculation on Greece’s exit from the European Union and concerns about the solvency of Spanish banks grew. Inconclusive Greek elections and the election of socialist candidate François Hollande as France’s president raised concerns the region may be split, with Northern countries like Germany and Finland standing firm on the need for austerity measures, while Southern countries like Greece and Spain arguing for measures to spur growth instead....