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The Rise of the Judiciary
Weekly investor research
14 September 2015
The Judiciary is on the rise in countries such as Romania, Brazil and China. This reflects the mood at a time of economic and
political transition, but there is more to the story. The process of development itself suggests that the rule of law will become
more and more important as countries get richer. Investors should therefore embrace the ongoing campaigns by prosecutors
across Emerging Markets (EM). We also discuss Brazil’s downgrade to junk, the strange sudden shift in sentiment about
China, Nigeria’s upcoming expulsion from the JP Morgan GBI EM GD index and a host of other developments in EM.