MacroVoices #376 Tian Yang: When the Recession Becomes Obvious
Macro Voices
00:00
The Dollar Smile Framework
For EM, I would frame it as cyclically. The liquidity headwinds are still there for now. We'll see how much China does pick up. But structurally, what's interesting is that there has been a shift. On kind of the longer term, three to five years structural capital cycle models, emerging markets are finally capital scarce versus the US. And that really only happened from the beginning of this year. So that kind of suggests on kind of 3 to five year outlook basis that EM is finally set up for our performance.
Play episode from 20:35
Transcript
