Investment Adventures in Emerging Markets

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Capital Markets Reform in China: Gaining Momentum

We believe China’s comprehensive capital market reform plan is the right step taken by the government, but the market still doesn’t seem too confident the government is willing to take the short-term pain to put all these reform proposals into action.

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How Big Are Emerging Markets?

By capturing the impact on effective consumer incomes of the often lower prices for non-traded goods and services found in low-wage economies and avoiding the impact of short-term exchange rate fluctuations due to capital flows, we believe purchasing power parity arguably provides a more accurate picture than market exchange rates of the relative size of different economies.