Best of the Blogs, Emerging Markets: Do Political Rumblings in China Portend Global Economic Disaster?
By Kathleen Culliton May 07, 2012 2:30 pm
Plus what the markets think of Putin 2.0.
Minyanville's daily roundup of some of the best financial commentary on emerging markets from around the Web.
CNN Money: Term Sheet
"Twenty years on, with Hillary Clinton trying to defuse the crisis brought on by the courageous Chen Guangcheng, China is already the second-largest economy on earth, and arguably the most important. Already it is the world's largest market for General Motors (GM) and BMW and Samsung. It is Apple's (AAPL) next frontier. For pretty much anyone in a C-suite anywhere, it is now the present and the future -- if, that is, all goes well. And there lies the rub. Despite the massive bets placed on this place by companies across the globe, we can't assume anything about China." (Also read China: PMI Rises for the Fifth Straight Month While Coca-Cola Gets Slammed for Contamination.)
"An index of emerging-market stocks fell this week to post the longest string of weekly declines since 2008, led by energy companies, as concern that a global slowdown will crimp consumer demand weighs on commodities. The MSCI Emerging Markets Index (EEM) dropped 0.6 per cent this week to 1,012.96, its seventh straight weekly slump. OAO Novatek, Russia's second-largest gas producer, sank 21 per cent in London to lead weekly declines in the index, while OAO Novolipetsk Steel, Russia's largest steelmaker by market value, fell to an almost three-year low. Moscow's Micex Index slipped to a 2012 low, while Brazil's Bovespa Index dropped 1.4 per cent."
Wall Street Journal: India Real Time
"'The more open India becomes over time, the greater the standards of living and opportunity for the broader number of people will be,' said Mrs. Clinton at an event organized by news channel NDTV in Kolkata on Monday. High up on her India agenda is to push her government's argument in favor of retail reform, which would allow U.S. supermarkets like Wal-Mart Stores Inc. (WMT) to enter India."
Financial Times: Beyond BRICs
"The markets weren't kind to Vladimir Putin as he was sworn in as Russia's president. With investors worried about everything China, oil, US jobs and the French elections, there was little enthusiasm in the Moscow markets to greet the new president. Stocks and the rouble both slipped on Monday, by 0.4 per cent and 1 per cent respectively, dragged down by the decline in oil." (For related content, see Russian Spring? Don't Hold Your Breath.)
The Economist: Americas View
Link: Political Lucha Libre
"Mexico's four presidential candidates squared up last night for the first of two televised debates to be aired ahead of the election on July 1st. For two hours they grappled like fighters in a bout of lucha libre, the theatrical wrestling that fills rowdy arenas all over Mexico. And just like lucha libre, the contest was not much of a real fight: the moves were carefully rehearsed, and no one walked away badly hurt." (Also read US and Mexico Sign Gulf Oil-Drilling Deal.)
No positions in stocks mentioned.
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