Forward Guidance How the Dollar Will Be Gradually Eroded by Emerging Market Currencies | Eric Fine & Natalia Gurushina (VanEck Fireside Chat)
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Aug 22, 2024 
Eric Fine, an expert on emerging markets, and Natalia Gurushina, a specialist in reserve strategies, dive into the evolving landscape of global finance. They discuss how emerging market currencies are gradually challenging the dominance of the US dollar. The duo highlights investment opportunities in places like China and India, while also navigating complex bond markets. Additionally, they uncover the political risks affecting these economies and emphasize the significance of structural reforms and diversification in emerging market investments.
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Eric's EM Journey
- Eric Fine's involvement in emerging markets started with his upbringing abroad and government work in Russia.
- He developed Russia's first clearing system, a foundation for their financial markets.
Natalia's Economics Path
- Natalia Gurushina's economics path began in the Soviet Union and was shaped by the 1997 Asian crisis.
- Her personal experience with reforms informs her perspective on emerging markets.
EM Transformation
- Emerging markets have evolved significantly since the 80s and 90s, marked by reforms like floating exchange rates and independent central banks.
- These changes led to high savings rates, low deficits, and domestic debt markets, improving stability and performance.