Mobius shrugs off contraction fears for EMs and DMs

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Franklin Templeton's Mark Mobius has said he does not believe there will be a recession in developed or emerging markets despite the ongoing eurozone sovereign crisis.

The emerging market investor acknowledged the developed world's problems will inevitably have a knock-on effect on other markets, but said developing economies are resilient enough to withstand the below. "Emerging markets are growing much faster than developed countries. That is not going to be affected - the base is much lower and the opportunities are much greater," Mobius said. "But we do not think, from a longer-term perspective, there is going to be a recession in developed countries and particularly not in emerging countries." Mobius nonetheless said the latest US policy res...

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