Roubini : These 5 Emerging Markets are in Real Trouble ...
Many emerging
markets are in real trouble. The list includes India, Indonesia, Brazil,
Turkey, and South Africa, dubbed the Fragile Five because all have twin
fiscal and current account deficits, falling growth rates, above-target
inflation, and political uncertainty from upcoming legislative or
presidential elections this year.
But five other
significant countries—Argentina, Venezuela, Ukraine, Hungary, and
Thailand—are also vulnerable. Political and electoral risk can be found
in all of them, loose fiscal policy in many of them, and rising external
imbalances and sovereign risk in some of them.
Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics