Emerging Markets

Op-Ed

What's in a Name?

Author: Brad W. Setser
Emerging Markets

China’s sovereign wealth fund looks more like a state agency for managing financial sector investments than a diversified global fund manager, says Brad Setser in a piece that first appeared in the May 2008 issue of Emerging Markets.

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Other Report

The Paradox of Free Market Democracy: Indonesia and the Problems Facing Neoliberal Reform (A CFR Paper)

Author: Amy L. Chua

This paper situates the recent problems in Indonesia in a more general framework that is called the paradox of free-market democracy. The basic thesis advanced is as follows. In Indonesia, as in many developing countries, class and ethnicity overlap in a distinctive and potentially explosive way: namely, in the form of a starkly economically dominant ethnic minority--here, the Sino-Indonesians.

See more in Emerging Markets; Indonesia

Other Report

Korea's Comeback: The Thirst for Funds Drives (A CFR Paper)

Author: Hilton Root

Six years ago, Korea was in trouble. Its banking system, inadequately supervised,collapsed. Industry,lac king financial discipline,expanded unproductively with its "too big to fail" private firms crowding out smaller rivals. Labor market rigidity weakened the competitive position of Korean industry. The financial crisis that resulted gave rise to hopes that significant reform would address all three dimensions of Korea's vulnerability.

See more in Emerging Markets; North Korea; Financial Crises

Other Report

Building the Financial Infrastructure for Middle Class Emerging Economies (A CFR Paper)

Author: Jane D'Arista

The export-led growth model for emerging economies is driven by their need to service external debt and build foreign exchange reserves. It has foundered in the aftermath of financial crises characterized by collapsing currency and asset values, widespread bankruptcies in real and financial sectors, rising unemployment, and negative growth rates. This report addresses the issue of building the financial infrastructure for emerging middle-class economies.

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Other Report

Private Capital Flows, Emerging Economies and International Financial Architecture (A CFR Paper)

Author: Glenn Yago

This report suggests that the control of capital in the developed world continues to shift away from private and state-owned institutions and toward public markets. Thereore, small and medium-sized firms with the best prospects for innovation and income/wealth generation need to be liberated from their dependence upon bank-based financial systems. They must also have the ability to turn to market-based systems with access to institutional capital providers at home and abroad.

See more in International Finance; Emerging Markets

Primary Sources

Joint Statement of the Fifth BRICS Summit in Durban, March 2013

The fifth summit of the BRICS (Brazil, Russia, India, China, South Africa) countries met in Durban, South Africa March 26 and 27, 2013, to discuss "political and economic coordination." They released their fifth summit declaration, "BRICS and Africa: Partnership for Development, Integration and Industrialisation," which includes plans for a BRICS development bank.

See more in Emerging Markets; Trade; Global

Transcript

South Korea, Poland, and Turkey: Three Emerging Market Success Stories Look to Sustain Their Growth

Speakers: Steven A. Cook, Marcus Noland, Mitchell Orenstein, and Gideon Rose

Emerging economies have boomed over the past decade, but many have recently seen their currencies come under pressure. With a potential currency crisis looming, CFR's Steven Cook, Marcus Noland of the Petersen Institute for International Economics, and Mitchell Orenstein of Northeastern University take an in-depth look at three emerging market success stories in a conversation with Foreign Affairs editor Gideon Rose.

See more in South Korea; Emerging Markets; Turkey

Transcript

A Conversation with Pham Binh Minh

Speaker: Pham Binh Minh
Presider: Bob Woodruff

Pham Binh Minh, minister of foreign affairs for the Socialist Republic of Vietnam, analyzes Vietnam's relationship with the United States and surrounding nations, and outlines the country's strategy for economic growth.

See more in Vietnam; Emerging Markets

Transcript

The President's Inbox: Asia And The Economy

Presider: Kay King
Panelists: Edward Alden, Elizabeth C. Economy, and Sebastian Mallaby

Embarking on her first international trip later this month, Secretary of State Hillary Clinton will travel to Japan, South Korea, China, and Indonesia to reinforce President Obama's commitment to active engagement and discuss the global financial crisis. Join CFR experts Edward Alden, Caroline Atkinson, and Elizabeth C. Economy to discuss U.S. foreign policy toward Asia, the global economy, and the challenges and opportunities that fill the new administration's inbox.

See more in United States; Emerging Markets; Business and Foreign Policy; China