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The global economic outlook has become more challenging in recent months, but there are many reasons...

The global economic outlook has become more challenging in recent months, but there are many reasons why we are still bullish about prospects in emerging markets. Many emerging markets are now notable for strong balance sheets, with lower debt to GDP ratios, debt composed of more appropriate currency and maturity profiles, and higher levels of international reserves. As a result, these countries are no longer so reliant on the developed world for finance. In fact, we now have a situation where China lends to the US and Brazil is also a net creditor. Globalisation is fuelling momentum ...