One thing is clear, easy stimulative decisions such as quantitative easing and the more recent corporate tax rate cuts are well behind us now and we are facing rising interest rates and trade uncertainty at a time when Nationalism is on the rise globally.
Policy makers across emerging-markets, already rattled by an exodus of capital and tumbling currencies, are bracing for a protracted struggle in the face of rising U.S. interest rates and a deepening trade war between the world’s two biggest economies.