All Emerging Market articles
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White papersGlobal Investment Views - June 2025
The art of policymaking is a lot about setting expectations against which all future decisions are assessed. When President Trump famously introduced his extreme tariffs on ‘Liberation Day,’ markets were obviously concerned. Since then, resilience in US labour markets, better-than-expected earnings, and trade war de-escalation have boosted sentiment. Risk assets have rebounded, and bond yields risen.
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White papersIndian assets have long-term allure as global rivalries intensify
Equity investors will have to cope with greater trade protectionism and regional rivalry, delayed climate transition, and technological transformation in the next decade. In our 2025 Capital Market Assumptions – which examine long-term return expectations for 40 global asset classes – we see shifting dynamics across equity markets, characterised by strong earnings growth in select regions, tempered by valuation challenges.
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White papersEmerging Markets hold steady amid softening US dollar, tariff uncertainty
In April, the volatility in global financial markets seen in March continued to ramp up. Notably, this included US financial markets, which exhibited a general pattern of a softening US dollar and rising bond yields. While some analysts have described this as a “classic emerging market crisis,” as veterans of actual emerging crises dating back to 1994, we consider this a wildly overstated perspective.
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White papersOil prices stop making sense
For the past few years, the expanded group of oil producers known as OPEC+ have tried collectively to stabilise crude prices by lowering production in order to dampen price volatility to the downside. But because several members of the wider cartel have different and conflicting fiscal and external financing priorities, efforts to limit output have not only failed, current production has increased. This would be newsworthy by itself, but is even more puzzling considering the potential impact of tariffs on global demand.
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White papersFour factors that could drive Chinese equity markets
Despite geopolitical, trade, and economic uncertainties, China’s stock market has emerged as one of the top returners globally in recent times. The MSCI China Index produced 10% in the first four months of 2025 and 26.5% over the past year, outstripping the MSCI USA, MSCI Emerging Markets and MSCI ACWI indices.
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White papersWhat would it take to see a sustained weakness in the dollar?
About a month after “Liberation Day,” the US dollar has shown signs of stabilisation, though it continues to soften against most developed and emerging markets currencies.
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White papersDigital disruption reshapes financial inclusion
About a quarter of the world’s adults lack access to affordable, quality financial services - but digital disruption is helping bring them into the formal financial system. Financial inclusion allows individuals to save and invest, while also supporting entrepreneurship and business growth. And for investors, these developments are opening the door to varied investment opportunities among banks and nontraditional financial services firms.
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White papersQuarterly Equities and Multi Asset Outlook – Q2 2025
Investors started this year thinking that corporates and governments were better prepared for a Trump 2.0 trade war. That proved not to be the case, so how should they be positioning amid the turmoil? Find out more in the latest Quarterly Equities and Multi Asset Outlook: ‘Dispersing the herd’.
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White papersCross Asset Investment Strategy - April 2025
Topic of the month: Navigating trade war turbulence
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White papersThe uncertain reality of tariffs and the future of gold
“The trade war is triggering a shift that could alter the current international framework and call into question the US dollar and US Treasury’s safe-haven status.”
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White papersEmerging Markets beyond the 90-day tariff pause
President Trump has announced a 90-day pause on tariffs higher than 10%. However, in the meantime, he has further increased tariffs on China to 125%. In retaliation, China announced an 84% tariff on all US imports starting from April 10th. While the situation remains quite fluid, we will address some concerns from an economic standpoint regarding growth and inflation.
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White papersNavigating trade war turbulence
We believe the severe disruption of the free trade model will have immediate and profound consequences, affecting all economies involved. The extent of this ‘detoxing medicine’ and the resulting retaliation will impact economic growth and hurt corporate profits.
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White papersHow are investors responding to the latest wave of tariffs from Donald Trump?
“The news flow is constant and ever changing,” says Premier Miton’s CIO and lead manager of the Diversified fund range Neil Birrell.
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PodcastTalking Heads – Emerging markets and US tariffs: opening gambit or torpedo?
What do the latest import tariff announcements from the Trump administration mean for emerging economies and companies around the world? Here, with a first assessment, Zhikai Chen, Head of Global Emerging Markets, shares his views on the impact for Asian and emerging market (EM) economies and companies with Chief Market Strategist Daniel Morris.
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White papersDemographics will shape future growth potential
Three trends that will shape the macro-financial landscape
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White papersThe global economy’s path in a fragmented world
With the world on the brink of significant structural changes, projecting the long-term macroeconomic scenario for 2025-2050 presents unique challenges. It is crucial to identify emerging trends while evaluating the acceleration of existing ones.
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White papersCentral and Eastern Europe: long-term growth driver for the entire EU area
In the 2000s, Eastern Europe was a successful region of Emerging Markets. A kind of gold rush attracted many investors to these markets. The region was hit hard by the financial crisis of 2008, but the investment story was not yet written off. It was only political changes, such as the Caucasus war of 2008, the annexation of Crimea in 2014 and, ultimately, the war in Ukraine in 2022, that made this region almost uninvestable for many investors.
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White papersEmerging-Market Equities: The Steep Cost of Missing Out
Emerging-market (EM) equities are off to a strong start in 2025, up 4.5% through March 14 in US-dollar terms. But investors could be excused for being wary. After all, emerging markets have struggled over the past decade.
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WebinarWebinar with Bin Shi – From pessimism to prosperity: How to navigate the China equity turnaround
It is a complex moment in the world today, with disruptive forces on many fronts driving rapid market movements. While China’s equity market has always been fast-moving, volatility has been particularly high recently as sentiment turned optimistic seemingly overnight.
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White papersIs there hope for the market?
While markets may still have room to grow this year, especially if earnings broaden beyond tech, tight valuations and rising policy uncertainty pose key risks. The path forward likely depends on earnings growth taking over—but missteps in fiscal or trade policy could derail that before it gains traction.
