Nomura's Subbaraman: Why We're Cautious on EM

The video discusses the impact of Trump's 'America First' policies on emerging markets (EM), highlighting the challenges faced by these economies due to trade protectionism, tighter immigration, and foreign policy changes. It examines the financial vulnerabilities of EM, particularly in Asia, due to debt accumulation and potential capital outflows. The video also explores the uncertainty in EM and the fiscal policy responses available in Asia. Additionally, it analyzes Mexico's economic challenges and the geopolitical risks in Asia, emphasizing the interconnectedness of trade and foreign policy.

In what ways do Asian countries have room for fiscal policy responses compared to Latin American countries?

What geopolitical challenges are mentioned that could arise from Trump's foreign policy?