More low-income individuals aren't benefitting from government support than wealthier individuals. This difference seems most severe in China and India. Low-income individuals can't benefit from such schemes if they are financially excluded. Low-inco...

Lower income is most prevalent in Indonesia, while it is less of an issue for Brazilians and Mexicans. In terms of changes in behaviour, home-working is now much more prevalent in Indonesia, while in China relatively fewer respondents had made this s...

Since then, the number of downgrades has dropped substantially, but it’s not the time to become complacent. As another warning sign, 54 sovereign ratings have been placed on a negative outlook since March (vs 29 to stable and 1 to positive). Among th...

For manufacturing activities not easily replaced by automation or 3D printing, which countries win share from China? Low wages and scale matter most in this segment: We plot wage curve up to China in countries with over 40mn population. Labour flexib...

LATAM OFTEN DISPLAYS A DEGREE OF EXCEPTIONALISM COMPARED TO PEERS IN EM. Capital controls are also in place, which means fresh foreign capital can consider the ADR listings alone. However, without confidence that the creditor negotiations will resolv...

Policymakers have, with the notable exception of Mexico, responded with vigour to the crisis. This likely means near 2% in Brazil and Colombia, and at 0.25-0.5% in Peru and Chile. Brazil’s FX weakness stands out but appears consistent with the fact t...