China's leadership change matters more to EMs than US election

The imminent leadership change in China is a more significant event for emerging economies than the re-election of President Obama. The installation of a cohesive Chinese leadership committed to putting the economy on a more sustainable footing would create opportunities for consumer goods producers while also signalling an end to the global commodity boom. The alternative is not more of the same but a further slowdown in China’s growth that would hit the emerging world much harder.