Blankfein Says Emerging Markets in Better State Than in ’98 - Bloomberg

Blankfein Says Emerging Markets in Better State Than in ’98 - Bloomberg:



"Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd C. Blankfein said emerging markets are better able to weather an investor retreat now than in 1998, when currency turmoil spread and forced international bailouts.



“There were a lot of things in ’98 that don’t exist now,” Blankfein, 59, said in an interview today with Bloomberg Television’s John Dawson in Hong Kong while attending the Goldman Sachs Global Macro conference. Those markets now have “better reserves, more flexibility in exchange rates, better policy orientation,” he said. 




Emerging-market stocks posted their worst start to a year since 2009, evoking comparisons with the Asian financial crisis, as China’s economy slowed and the U.S. Federal Reserve began paring monetary stimulus. Investors including Mark Mobius, who oversees $50 billion in developing-nation assets at Templeton Emerging Markets Group, are predicting the worst isn’t over."



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