It has been easy to pick holes in the emerging markets investment case in 2019. Faltering global economic forecasts have been especially stark in the countries where growth had, until recently, been accelerating. For example, Chinese growth has hit its lowest level in nearly three decades, while India suffered a sharp setback in the summer. Mounting global geopolitical fears have not helped the outlook. But, according to the International Monetary Fund (IMF), the emerging markets still have far greater growth prospects than the developed economies: growth in the former is projected to 4.6% in 2020, compared to 3.4% global growth…
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