Global Economy: US savings rate rises from close to zero in 2007 as housing wealth falls - bad news for Emerging Economies
Nov 11th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Global Economy: The US savings rate is rising from close to zero in 2007 as housing wealth falls and economists at US investment bank Morgan Stanley say that not only will the powerful prospective cyclical downturn in the global economy be a major shock to Emerging Economies (EM) and currencies, but they believe that structural reasons for investors, such as the impact of rising US savings, suggest they should be less enthusiastic about many EM currencies beyond this impending global recession.