Business Monitor’s recent downward revision of its 2009 Hungarian economic growth forecast to -6.4% well reflects my view that the systemic crisis risks I have been highlighting since Q308 have morphed into the region’s core scenario. While small economies like the Baltics and frontier markets such as Ukraine have long been forecast to contract in… [Read more]
One noteworthy aspect of the current global financial crisis has been the lack of coordinated international action by emerging nations. The G7 swung into action last week to deal with their own concerns, but there has not been a similar coordinated response from the world’s leading emerging markets – China, India, Brazil, Russia, Korea, et… [Read more]
Question: Which country would you feel safer investing in, South Korea or Pakistan? Most people would probably say Korea, but judging by the performance of their currencies this year, the answer is not so clear cut. Every night lately, just before drifting off to sleep, I’ve found myself wondering where the Korean won would be… [Read more]
Might the US go cap in hand to foreign powers for a bailout from its financial woes? That was an in idea mooted by Kenichi Ohmae in the Financial Times yesterday. He proposed that the US ask for up to US$5 trillion from the world’s major economic powers to set up a credit line to… [Read more]