The past couple of weeks have seen renewed concerns about credit risks in emerging economies. The key point that has been missed in much of the analysis, however, is that credit bubbles have begun to deflate in several major EMs, including Brazil and Russia. As such, the risks from excess credit growth are now confined to China, as well as a handful of medium-sized EMs such as Turkey.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.