EFTA Document EFTA01458588

Macro outlook Devaluation fuels fears At the same time, this step increased fears that further devaluations would be used by the government to restore China's competitiveness. This might enable China to regain economic strength via its export sector, but it would, at the same time, hurt competing companies in other economies. Many of these companies are headquartered in emerging markets. This is likely to have contributed to the strong setback of the MSCI Emerging Markets Index. In mid-Au