EM slowdown – why this time is different

According to our GDP Tracker, EM growth has now fallen to a low last seen in the aftermath of the 2008-09 global financial crisis and, prior to that, the 2001-02 Argentine crisis. However, the causes of the latest downturn are very different from previous slowdowns. So while EM growth rebounded strongly in both 2001-02 and 2008-09, the same is unlikely to happen this time. 

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