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  Capital Outflows in emerging economies unable to be controlled
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Author Topic: Capital Outflows in emerging economies unable to be controlled  (Read 134 times)
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« on: October 14, 2018, 09:45:29 am »

The G24 statement, issued on the sidelines of the Bali meetings, said all emerging markets were “adversely affected” by excessive capital flow volatility.

While many countries shared common fears, Indrawati said it was difficult to forge cooperation to counter the risks.

“It’s not really clear how the world is going to coordinate more effectively, especially when each country has their own domestic issues,” she said.


Egyptian Finance Minister Mohamed Maait said policy makers in developed countries should understand that if their actions hurt other countries it would have knock-on effects.

“You need me. I am a market for you, I am an opportunity for you,” Maait told Reuters. “I don’t believe there will be a winner and a loser. Either all are winners or all are losers.”

Indeed, market ructions have now cascaded through to developed markets with Wall Street seeing a six session slide until a rebound on Friday, amid fears over the trade war between China and the United States.

However, other than having effective monetary policies, developing markets can do little to cope with the impact of rate hikes and trade battles, said Jacob Frenkel, chairman of JPMorgan Chase International.

“When elephants fight, the grass suffers.”
International instability could honestly be at a worse point than after the 2009 recession, even if it is less costly. I am worried we’ll be heading to an even worse period than the Cold War ever was.
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