The world is at the beginning of a new economic cycle that could lead to stronger international markets and subdued volatility in emerging markets such as the UAE’s, JPMorgan Asset Management’s global strategist said yesterday.
“It will be a weak recovery,” Tom Elliott said in Dubai. “Consumers are paying off debt, governments are paying off debt. It will be weak, but we don’t think it will be a double-dip. We do think it is sustainable.”
The recovery held out special promise for emerging markets such as the UAE’s, he said, adding that he expected them to continue to be a target for long-term international investors in coming years. And as wary investors piled back into stocks during the economic recovery, he said these markets were poised to attract new capital, increasing liquidity and reducing volatility.
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