“When people are disappointed, they go to the streets,” Michael Shaoul, chairman and chief executive officer in New York of Marketfield Asset Management, added in the article. “They haven’t given that up just because they’ve had a good decade.”
The International Monetary Fund has lowered its global growth projections for the fifth consecutive time as of July 9, citing stable but lower China growth and risk of capital outflows. Developing economies are expected to grow 5% this year, below the 5.3% forecast in April and the annual average 6.6% over the past decade.
Guggenheim BRIC ETF
For more information on BRIC countries, visit our BRICs category.
Max Chen contributed to this article.