Here is a piece by Steve Williams of Cormorant Capital Strategies. Steve helps me with the investment committee and provides invaluable impartial and independent external expertise.
When the clouds are seen
The October edition of the International Monetary Fund’s (IMF) World Economic Outlook reveals an expectation for global growth to amount to 3.3% in 2014 and 3.8% in 2015. That compares with growth in the Emerging Market and Developing Economies which is expected to reach 4.4% and 5.0% respectively.
If the IMF are right, the remainder of the year will see the fastest pace of expansion, among the emerging market economies, in Asia (6.5%). Asian growth will eclipse that in Emerging and Developing Europe (2.7%), Latin America (1.3%) and the Middle East (2.7%). Only Sub Saharan Africa (with output expanding at 5.1%) will see growth at anything like the pace set by Asia. Asia’s charge into the lead is boosted, in part, by an improved outlook for India…
‘In India, growth is expected to increase in the rest of 2014 and 2015, as exports and investment continue to pick up and more than offset the effect of an unfavorable