Bloomberg Daybreak: Asia Edition
Navigating Trump Tariff Policy, The Outlook for Emerging Markets
Nov 27, 2024
Ben Luk, a Senior Multi-Asset Strategist at State Street Global Markets, shares his insights on the complexities of Trump's tariff policies and their impact on emerging markets. Stephen Quattri, an EM Equity Portfolio Manager at Morgan Stanley Investment Management, discusses the economic outlook for Asia, highlighting the need for stimulus in China. They explore investment strategies, potential growth in emerging market equities, and the optimistic trends in sectors like healthcare and retail, emphasizing a country-specific approach to investment.
17:10
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Quick takeaways
- The imposition of tariffs by the U.S. can create challenges for export-reliant emerging markets like China while presenting opportunities for others like Indonesia and the Philippines.
- Emerging markets' resilience amid U.S. monetary policy changes will depend on their local economic conditions and ability to navigate external inflationary pressures.
Deep dives
Impact of U.S. Tariff Policies on Emerging Markets
The use of tariffs by the new U.S. administration is likely to have significant implications for emerging markets, particularly concerning trade relations. Although tariffs can provide short-term benefits for the U.S., they will create challenges for economies that are heavily reliant on exports, such as China. Emerging markets that are able to diversify their trade relationships or are less dependent on U.S. consumer demand may be better positioned to weather these impacts. Analysts suggest that countries like Indonesia and the Philippines could emerge as attractive investment opportunities amidst the shifting trade dynamics.
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