Today's Emerging Markets Pulse
Indonesia launches state‑run export hub to curb under‑invoicing and capture $150B revenue
President Prabowo Subianto announced that exports of selected raw materials will be routed through a new state‑owned enterprise under the Danantara holding. The move targets under‑invoicing, which the government says cost $6.5 billion in 2016, and aims to generate up to $150 billion in annual revenue.
Wieslander Published in Royal Swedish Academy of War Sciences
Anna Wieslander, Director for Northern Europe, published an analysis in the Royal Swedish Academy of War Sciences critiquing the U.S. National Security Strategy released by the Trump administration in November 2025. She argues the strategy leaves Europe squeezed between an aggressive Russia to the east and a retreating United States that is shifting conventional defense responsibilities to European allies. The piece highlights the emerging security gap and calls for stronger European and NATO responses. The article originally appeared in Atlantic Council’s Dispatches.
Emerging Markets Still Offer Cheap Value Opportunities
Emerging markets portfolio manager Juan Torres on: * Where the Real Emerging Markets Value Is * If US Stocks Fall, What Happens to Emerging Markets? * Should You Hedge Emerging Markets Currency Risk? * Is Buying the Dip Still Smart? * Emerging Markets Outlook: Cheap or...
Supreme Court Rules Trump Tariffs Illegal, Congress Holds Tax Power
Trump's IEEPA tariffs are illegal, as per the SC, and he's going to have to work with Congress and subject to the law now to sustain the tariff regime in various other ways. Or go back to court. China and...
Chad Closes Border with Sudan After Clashes Kill Five Soldiers
Chad shut its eastern border with Sudan after weekend clashes killed five Chadian soldiers and three civilians in the border town of Tine. The fighting involved Sudan’s Rapid Support Forces and militia loyal to Khartoum, reflecting the spill‑over of Sudan’s...
Why Japan Must Help Counter China’s Presence in the Pacific
The article argues that Japan must step up its role in Micronesia to help counter China’s expanding footprint across the Western Pacific. The United States relies on COFA agreements that provide billions in aid and unrestricted base access, yet implementation...
Lebanon Gold Sale Mooted to End Financial Crisis
Lebanese officials are debating selling or leasing part of the country’s 280‑ton gold reserves, now worth roughly $45 billion after a 70 % price surge. The gold, the largest Middle‑East reserve after Saudi Arabia, could fund a financial‑gap law essential for an...
Potential of Grid Enhancing Technologies for Transmission in Latin America and the Caribbean
The Inter‑American Development Bank’s new market study highlights how rapid renewable‑energy growth is overloading transmission networks across Latin America and the Caribbean. It introduces Grid‑Enhancing Technologies (GETs) as a suite of solutions that can boost line capacity, improve stability, and...
Private Investors Eye Africa's Electricity Transmission Opportunity
Private investors are entering Africa’s electricity transmission sector, marked by Uganda’s $50 million Amari project—the continent’s first independent transmission project (ITP) to begin construction. Similar public‑private partnerships are emerging in Ethiopia, Kenya and South Africa, where a new procurement programme has...
Glasgow Prestwick Showcases Cool Chain Capability to India
Glasgow Prestwick Airport showcased its upgraded cool‑chain infrastructure to India’s Consul General, Siddharth Malik, as part of a push to capture a larger slice of post‑Brexit UK‑India trade. The visit highlighted the airport’s integrated, in‑house cargo model, bonded warehouse space...
China, ASEAN, and Beyond: The UK Strategy for the Indo-Pacific
The United Kingdom has unveiled a comprehensive Indo‑Pacific strategy that ties Euro‑Atlantic security to a free and open Indo‑Pacific, emphasizing flexible, values‑based partnerships. Prime Minister Keir Starmer’s recent China visit secured visa‑free travel for UK citizens and greater market access for...
How Washington and Moscow Drove the EU’s Indo-Pacific Pivot
The European Union is accelerating its engagement with the Indo‑Pacific, highlighted by high‑level visits to India and new free‑trade agreements with Indonesia and a pending deal with India. This pivot reflects two structural shifts: a push for strategic autonomy away...
When Growth Outpaces Accountability: Political Volatility in the Philippines
The Philippines’ political landscape is defined by sharp swings in civil liberties that correspond to changes in presidential leadership rather than formal rule changes. Family‑based dynastic networks and clientelistic coalitions amplify these shifts, producing periods of illiberal governance under leaders...
Kenya’s BasiGo Enters Fixed-Route Commuting Once Targeted by Swvl
Kenyan electric‑bus startup BasiGo is piloting a scheduled, fixed‑route commuter service in Nairobi, integrating electric mid‑size buses with existing matatu cooperatives. The three‑bus trial offers nonstop links between estates and business hubs at KES 150‑200 per seat, with 80% of...
Global Buyout Firms Face Exit Challenges in China
Major private‑equity firms such as KKR, Blackstone and CVC reported no publicly disclosed full exits from mainland Chinese portfolio companies in 2025. The exit drought reflects strained liquidity, higher interest rates and depressed valuations that have throttled deal activity. While...
Uganda to Link New Railway Line to Tanzania, Opening up New Export Route
Uganda announced plans to connect its new standard gauge railway to Tanzania’s under‑construction rail network. The line would run from the Tanzania border through southwestern Uganda to Mpondwe on the DRC frontier, linking mineral‑rich regions to the port of Dar...
Comment Letter on Nasdaq’s Proposed Additional Initial Listing Criteria for Companies Primarily Operating in China
The Council of Institutional Investors (CII) submitted a comment letter backing Nasdaq’s proposed rule that adds initial listing criteria for Chinese micro‑cap companies, including a $25 million minimum proceeds requirement. CII applauds the effort to curb abnormal trading in the smallest...
The Global Week Ahead
The Mexican army killed CJNG boss "El Mencho" near Puerto Vallarta, triggering fierce gun battles and an unprecedented U.S. military task‑force partnership. President Trump announced a new 15% tariff regime under Section 122, but it can only stay in effect for...
PGAV Establishes Strategic Global Presence Led by John Kasman
PGAV, a leading destination‑design firm, is establishing a dedicated international hub in Abu Dhabi to serve the fast‑growing immersive tourism markets of the Middle East and China. The expansion, overseen by principal John Kasman, builds on longstanding client relationships and...
Armenia’s Not Getting Off the Struggle Bus Just Yet
Armenia’s aging Soviet‑era nuclear reactor leaves the country on the brink of an energy crisis, and Moscow’s dwindling support after the Ukraine war has removed its traditional security backstop. U.S. Vice President J.D. Vance recently signed a nuclear cooperation deal...
The Long Telegram Just Turned 80. Our Times Demand a New One.
The Atlantic Council’s Frederick Kempe marks the 80th anniversary of George Kennan’s Long Telegram, arguing that today’s geopolitical turbulence demands a comparable strategic blueprint. He highlights a simultaneous great‑power contest involving Russia’s war in Ukraine, China’s assertiveness around Taiwan, and an...
The Man Who Would Be King of Saudi Arabia (with Karen Elliott House)
In this episode, Russ Roberts talks with journalist Karen Elliott House about her new book on Crown Prince Mohammed bin Salman, examining the Saudi leader’s drive to modernize the kingdom while consolidating political power. House outlines MBS’s motivations—economic diversification, geopolitical influence, and...
Debt Restructuring Is Senegal’s Best Bet
Senegal’s public debt has surged to roughly 132% of GDP, placing the country in a severe fiscal bind. With limited access to cheap financing, the government faces a stark choice between costly debt service and a structured debt‑restructuring process. Analysts...
GSMA Launches Innovation Fund to Accelerate Green Transition Through Mobile Technology
The GSMA has launched a global Innovation Fund offering £100,000‑£200,000 grants to small and growing enterprises that use mobile and digital technologies to accelerate the green transition in low‑ and middle‑income countries. The fund targets solutions that expand clean‑energy access,...
India Exchanges BRICS Ties for Lead Role in the American AI Cage
India is rapidly pivoting from its BRICS stance toward deeper integration with the West, highlighted by a landmark EU free‑trade agreement and its entry into the US‑led Pax Silica AI alliance. The India‑Middle‑East‑Europe Corridor (IMEC) is being repurposed from a logistics...
Banks, Operators to Drive Africa’s Stablecoin Tipping Point
African banks and mobile network operators are poised to accelerate stablecoin adoption, turning the continent’s burgeoning mobile‑money ecosystem into a mainstream digital payments layer. Ripple’s Reece Merrick highlighted that once banks and telcos embed stablecoins in custody, payments and treasury...
How Ukraine’s Economy Has Defied the Odds
Ukraine’s economy has rebounded to near pre‑war GDP levels thanks to disciplined fiscal policy, heightened defense spending, and sustained international aid. Restored air and sea corridors revived export channels, while targeted infrastructure grants offset war‑induced fiscal gaps. The government’s focus...
Egypt's Bid to Anchor a Cairo to Cape Town African Trade Highway
In November 2025 Egypt’s deputy transport minister reported that roughly 80% of the Cairo‑to‑Cape Town trans‑African highway is finished, positioning Egypt as the north‑south anchor of the corridor. The project, part of the African Union’s Trans‑African Highway network, is funded...
Too Soon to Comment on US Tariff Change Impact on India, Says FM Sitharaman
Finance Minister Nirmala Sitharaman said it is too early for India to assess the impact of the U.S. Supreme Court’s decision to overturn Trump‑era global tariffs, as the commerce ministry continues its review. She also urged banks to refocus on core...
Unpacking African Markets in the Era of Global Volatility
The Africa Markets Conference 2026 (AMC26) opened in Cape Town, hosted by Standard Bank, to examine how heightened global volatility—particularly U.S. Trump‑era tariffs—affects the continent. Organisers aim to channel private and sovereign capital into African infrastructure and growth sectors amid...
Changing Narratives on China-MENA
A wave of think‑tank discussions in early 2025 highlighted a shift in how experts view China’s role in the Middle East. After a period of heightened activity—dubbed “peak China‑MENA” between Xi’s 2022 Saudi visit and the October 2023 Hamas attack—analysts now...
Grey Launches ‘Grey Business’ to Simplify Global Payments for African Startups and SMEs
Grey, a global fintech, launched Grey Business, a multi‑currency payments platform for African startups and SMEs. The service lets companies open USD corporate accounts, send and receive global payments, and convert currencies instantly at real‑time rates, also supporting USDC and...
China’s Missile Reach Forcing US Pacific Air Power Reset
China’s expanding missile and surveillance capabilities are turning U.S. forward airbases in the Pacific into high‑value targets, prompting the Air Force to abandon its Cold‑War‑era expeditionary model. A Hudson Institute report warns that without a three‑tiered “Edge‑Force, Pulsed‑Force, Core‑Force” redesign,...
China’s 2026 Policy Loosening Boosts Steel, Non‑Ferrous Demand
China signals looser policy and faster green transition for 2026, supporting steel and non-ferrous demand. https://www.metalnomist.com/2026/02/china-2026-economic-policy-direction.html
Study Shows AI Skills Gap in Singapore Malaysia
Epitome Global’s latest workforce study reveals that only one in five professionals in Singapore and Malaysia demonstrate AI‑ready traits such as persistence, curiosity and reflective learning. While more than 70% claim advanced digital literacy, 56% rate their decision‑making and 42%...
CaoCao Robotaxi Fleet Reaches 100 Vehicles
Chinese mobility firm CaoCao Inc. announced that its robotaxi fleet in Hangzhou’s Binjiang District has reached 100 vehicles, supported by its Green Intelligent Mobility Hub. The company is moving from safety‑driver‑assisted rides to fully driverless operations while trialing mixed fleets,...
EPU: A Beneficiary Of Peru's Solid GDP Growth And High Commodity Prices
The iShares MSCI Peru and Global Exposure ETF (EPU) has delivered double‑digit returns in 2026, extending the strong performance it posted in 2025. Its trailing price‑to‑earnings ratio sits at 20.83×, still cheaper than the S&P 500, reflecting a higher cyclical tilt....
Consortia Secure First Philippine Offshore Wind Grid Deals
A consortium led by Seawind Asia, Stream Invest and Triconti ECC Renewables has secured the Philippines’ first offshore wind grid connection agreements. The deals cover three projects—450 MW Frontera Bay, 600 MW Guimaras Strait and 600 MW Guimaras Strait II—totaling 1.65 GW of potential capacity....
Japanese Yen Bounces on Takaichi Election Sweep, but Will It Last?
Prime Minister Sanae Takaichi’s Liberal Democratic Party secured a landslide victory in the February 8 snap election, propelling Japanese equities to record highs. The political certainty sparked a yen rally, moving the currency from around ¥157 per dollar to the ¥152...
Japan's Enhanced Defense Stance Needs Space Ambitions to Match
Japan is moving to raise defence spending toward 2 % of GDP and to scrap the five‑category export ban, signalling a major policy shift. The government argues that higher budgets must translate into sovereign space capabilities, especially ISR satellite constellations. Recent...
SPX Near Record High Amid Soaring Stock Volatility
As of Fri's close, the SPX sat just 0.99% below its Jan 28 all-time high (~6,978.6). Yet everyone's screaming "chaos & uncertainty"? Blue = mkt-cap wgted avg "VIX" of the 500 constituents (now 38) Orange = standard 30-day VIX (17.6) Green =...
Chile's Chicago Boy Reforms Outpace Argentina's Peso Woes
Chile basks in the afterglow of the free-market reforms put in place by Pinochet’s Chicago Boys (1973–1990). Argentina struggles under the weight of the Argentine peso. CHILE LEAVES ARGENTINA IN THE DUST. https://t.co/UyNgQY2kIL
Colombia, Chile, South Korea Lead 2026 Emerging Market Inflows
What are the hottest EMs in 2026? There are a handful of EMs that have monthly BoP flows. Those show a big rise in foreign investor inflows for Colombia (red), Chile (blue) and South Korea (purple). India (green) and Mexico...
Short‑term Tariffs Won’t Drive Multi‑year Investment
A tariff that expires in 150 days isn’t a long-run industrial policy. Firms invest on multi-year horizons. If the policy is temporary, the investment response will be, too: mostly none. (This was recorded when the tariff rate was 10%; it's...
1970s Balance‑of‑Payments Deficit Returns Under Trump
Back to the 1970s again. History, Trump, the law and the balance of payments. Can the bofp be in deficit? Did a chartbook in response to the fascinating exchange between @Brad_Setser & @PhilWMagness https://t.co/ryYY7Z9OBm https://t.co/zySJwiEZN7
Armenia’s Landlocked Neighbors Limit Post‑Soviet Choices
Armenia’s landlocked position between Turkey, Russia, Azerbaijan and Iran has left Yerevan with few good options in the post-Soviet world. Full Newsletter: https://t.co/ZWXi1Pbh4h #armenia #geopolitics https://t.co/un8RUyVDaW
Trump Serves as His Own China Desk and USTR
Trump is his own China desk (and his own USTR) Brilliant reporting from @dimi of the FT (Strikes me as a very fair summary of the inside DC debate on China) 1/ https://t.co/SYfGL5iROn
China’s Overlapping Industries Amplify Industrial Policy Impact
Kyle Chan: "China’s strength across multiple overlapping industries creates a compounding effect for its industrial policy efforts." https://t.co/1Z2o8dcRWq
German Firms Decry China's Unfair, Destabilising Trade Practices
Reuters: "German businesses warned of what they called destabilising and unfair global business practices by China, accusing Beijing of driving overcapacity, massive subsidies, distortive foreign-exchange policies and politically motivated export controls. https://t.co/701kYKGi2T
97% of Chinese Megacities Now Have High‑speed Rail
SCMP: "High-speed rail services are already accessible in 97 per cent of Chinese cities with populations of more than 500,000, the State Council said in December." https://t.co/bD3P6HUata
China‑Africa Trade Hits $348B, Chinese Exports Surge
According to the China Global South Project, in 2025, trade between China and Africa reached $348 billion, a 17.7% increase from 2024. Chinese exports to Africa rose 25.8% to $225 billion, while African exports to China rose 5.4% to $123 billion. https://t.co/RFFOLMKVsP