1: Opportunities beyond re-opening
China is at a critical juncture and faces three principal challenges: geopolitical rivalry with the US, the ongoing fallout from Covid-19, and issues in its property sector. These huge challenges will test the resolve of the Beijing leadership.
2: A bright decade ahead for India
The India story is likely to gain even greater prominence over the next decade. While the US and China will remain just as important, the rise of India's economy is a force to watch
3: A lost opportunity or time to get constructive on Brazil?
Between 2017 and 2021 - aside from the short, sharp shock of Covid-19 - was a period of relative respite for Brazilian investors; However, the last two years have seen the return of two familiar old devils to the Brazilian economy.
4: From cyclical to structural on memory
Lockdowns and Covid-19 created significant dislocations in semiconductor inventories. Three key factors led to historically high inventory levels, supply-demand imbalances, and inflationary pressures: a China-centric supply chain, an aggressive uptick in demand and underinvestment in mature technologies.
5: Relocating supply chains to create long-term winners
China faces six critical challenges to its position as the world's dominant exporter and largest manufacturing hub: Politics, geopolitics, Covid, an ageing population, wage growth and decarbonisation.
6: A long-term perspective on commodities and energy
It is hard to say anything particularly useful about commodity prices in the short term given the number of factors at play: the war in Ukraine, US monetary policy, China's re-opening, the depth of recessions in the West, and temporary supply disruptions, to name but a few.
7: A multi-year opportunity in electric vehicles
China is undoubtedly an EV superpower. It has the world's largest lithium-ion battery producer and its associated supply chain. It also has the largest EV manufacturer in the world and the world's largest EV consumer market.
8: Hope for global tourism
The growth of global air travel was temporarily paused by the Covid-19 pandemic in 2020 and has been in recovery mode ever since. This recovery has been somewhat uneven, with travel in the Americas and Europe returning significantly faster than in Asia.
9: Will China's re-opening drive inflation?
The consensus is that inflation will moderate in 2023, partly due to high base effects from 2022 and the fact that there has been no additional major oil or food price shock; so the year on-year comparison will likely trend downwards.
10: ESG's relevance for EMs in a complex world
As the world faces growing social and environmental challenges, such as climate change, biodiversity loss, the cost of-living crisis, and social inclusion, environmental, social, and corporate governance (ESG) concerns have particular relevance in emerging markets, where many of these challenges are most acute.
Read our full report to learn more about key themes for emerging markets in 2023.
This post is funded by Federated Hermes
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