Richard Turnill: EM Pricing in Risk on Protectionism

The transcript discusses the potential for a new Cold War between the US and China, with a focus on market reactions to political changes. It highlights the risks and opportunities in emerging markets, particularly in relation to global growth and protectionism. The discussion also covers China's economic indicators, such as curve steepening, and their implications for global financial conditions.

What historical strategy did the US use to strengthen its position during the original Cold War?

• Breaking China away from the Soviet bloc

• Increasing military spending

• Promoting free trade agreements

• Forming alliances with European countries

What is the primary concern for markets regarding the current economic climate?

• Inflation rates

• Protectionist risks

• Interest rates

• Unemployment rates

How does protectionism affect capital flows according to the discussion?

• It stabilizes global markets

• It causes capital to flow back into the US

• It reduces the value of the dollar

• It leads to increased foreign investments

What opportunity is highlighted for investors in emerging markets?

• Low interest rates

• High risk premiums

• Government subsidies

• Stable currency exchange rates

What is a significant risk to the global economy as discussed in the final section?

• European Union's trade agreements

• China's economic policies

• Rising oil prices

• US fiscal policies