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Recoveries from crises require both stimulus and reforms
Weekly investor research
06 February 2017
Experience from EM countries shows that sustainable recoveries from crises require a careful rotation from stimulus towards reform as economies reach full employment. Recent developments in the US and UK suggest that governments are set on a course of further stimulus and protectionism. This does not bode well for the sustainability of their recoveries. We also discuss developments in Brazil, Russia, India, Costa Rica, Ecuador, Indonesia, Romania and China plus the usual snippets.