The Wall Street Journal’s MoneyBeat column has observed that emerging markets are more than just factories now and that investors should think of them in terms of Samsung Electronics (OTCMKTS: SSNLF) rather than Samsung Heavy Industries (OTCMKTS: SMSHF). In fact, shares of Samsung the smartphone maker are up 3% in 2014 while Samsung the shipbuilder’s shares are down 27% for a vivid illustration of the divergence between the new and old economies in emerging markets.
Jack Deino, the head of emerging markets debt at money manager Invesco Ltd., commented how it used to be that a sluggish materials sector almost always meant trouble for emerging markets. But now their economies are more diversified while companies and countries alike have strengthened their balance sheets so that “you’re not always on the edge of a cliff anymore.”
To read the whole article, Emerging Markets: Now More Than Just Factories, go to the MoneyBeat column on the website of the Wall Street Journal.
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