Many emerging markets assets have not been able to ride on China’s reopening coat-tails this year as it has been too domestic, according to Goldman Sachs Group Inc.’s Caesar Maasry.
(Bloomberg) — Many emerging markets assets have not been able to ride on China’s reopening coat-tails this year as it has been too domestic, according to Goldman Sachs Group Inc.’s Caesar Maasry.
The reopening is “less about credit growth, it’s less about infrastructure spend that usually spills into commodities and other EMs,” the firm’s head of emerging-market cross-asset research said in a Bloomberg TV interview.
Some emerging markets need to reform and think about having growth drivers that are not just reliant on the commodities angle, Maasry added.
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