Why EM never emerge!
why do we have Emerging markets crisis from time to time1.Because EM are not catching up with DM. That is the reality
2.Globalization makes people from EM desire what we have in DM not the opposite
3.Automation is not friendly to EM
4.The best minds in EM don't stay in their countries
5.The cancer treatment is not going to be invented in any EM country
Except Singapore and perhaps Korea no Emerging market ever emerged
Turkey is running a chunky current account deficit of about US$40bn a year, and has a large external debt of about US$400bn on a gross basis and US$200bn on a net basis (about 50% of GDP).
GaveKal
Looking at The Economist Indicators i see a crisis coming soon.
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