Politicians are notorious for their campaign promises and their inability to keep them. However, more than 500 days into Donald Trump’s presidency, it appears the man who promised tax cuts, a tougher stance on illegal (and legal) immigration and better negotiated trade deals, may actually be on track to achieving a few of his promises. In doing so, however, he has left destruction, chaos and confusion in his wake, particularly for emerging markets that feel the pressure of a strengthening US dollar, higher interest rates, and looming trade wars. Trump did warn us, though; we simply didn’t believe him. At times like this it’s important to revisit why we urge clients to invest in emerging markets, which comprise clear structural advantages over developed markets, such as large, young and growing populations; the fastest growing economies in the world; and the fastest growing middle class. These structural advantages are already resulting in – and will lead to further – rapidly rising ...
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