Geopolitics in EM: Conflicts everywhere but the biggest ones may freeze in 2024

  • Conflict can shock markets: eg Polish equities fell 45% after Russia invaded Ukraine and took 16 months to recover

  • US military remains supreme but its willingness to intervene is being tested and technology is helping weaker combatants

  • But there are reasons why the largest conflicts in EM, China-Taiwan, Russia-Ukraine, Israel-Iran, should freeze in 2024
December 5th, 2023
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