Emerging market credit crunch could haunt 2016 | Reuters:
"A world getting comfortable again with high debt but few defaults looks set for a rude awakening next year, and not just in the United States.
As the Federal Reserve prepares to jack up interest rates next month and the dollar climbs again, anxiety over an alarming accumulation of corporate and household debt in emerging economies from China to Malaysia, Russia to Turkey, Mexico and Brazil has been building for the past five years.
Characterized by Goldman Sachs as a possible third wave of the credit crash - the first being a sub-prime housing bust and serial banking collapse of 2007/08 and the second the euro sovereign debt crisis of 2011/12 - emerging market borrowing is now vulnerable to any reversal of the easy money policies the rich world adopted to cope with the first two waves."
'via Blog this'
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