Podcast – Otaviano Canuto on the Multiple Shocks Faced by Emerging Markets in 2022

AMUNDI WORLD INVESTMENT FORUM June 9th, 2022 Paris, Carrousel du Louvre

Heterogeneity of EMs The term “BRICS” was coined by economist Jim O’Neill in 2001. Since then, commentators have challenged the relevance of this concept, given the different trajectories taken by these economies. Do you think we can still treat EMs as a common bloc, given clear disparities when it comes to their economic and financial conditions?

Impact of Covid-19 on EMs The Covid-19 crisis has had a significant impact on economies and societies worldwide, but emerging markets have particularly suffered from the pandemic. Have EM economies all been equally impacted by the pandemic? If not, what are some differentiating factors?

Heterogeneous impact of war on EMs Then, the invasion of Ukraine by Russia has hit Emerging markets with a new wave of shocks (rising energy and food prices, tightening in global financial conditions). However, the impact of these common shocks has been heterogeneous. Can we identify specific sub-groups within the EM bloc with regards to how they have been affected by the crisis?

Emphasizing the need for international cooperation Economic and financial sanctions are the new weapons, making us question whether cooperation is still a way forward. Can you give us examples of “good” policies that are likely to slow down the fragmentation process and make international cooperation possible again?

Concluding remarks: EMs in the regime shift The theme of regime shift is the guiding idea of this year’s Forum: changes in the global world order, economic and geopolitical disruptions, increase in regionalization… What do you think will be the role of EMs going forward in the midst of this global regime shift?

EMERGING MARKETS: ECONOMIC AND GEOPOLITICAL FRAGMENTATION

AMUNDI, PARIS, at the CARROUSEL DU LOUVRE (2022)