| Emerging Markets: Philippines Nears Investment GradeWith a reform-focused government and solid external balances, the Philippines will be rated investment grade in the second half of this year, according to emerging markets analysts from Barclays. |
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| The Impact of Rising Economic, Fiscal and Social Risks in EuropeRecovering from the Great Recession has proven difficult for Europe as hard-to-resolve economic problems have combined with fiscal and social dilemmas. |
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| South Africa: Still EmergingSouth Africa has become a steadily growing attraction to investors both domestic and foreign, but political and economic risks persist. |
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| Amid Abundant Uncertainty, Resilience Is in DemandControl Risks’ annual RiskMap sees an undercurrent of uncertainty and volatility affecting both developed and developing markets in ways that pose unaccustomed challenges to corporate and political leadership. |
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| The European Financial Stability Facility: Another Balance Sheet Manipulation?What if you had to pick one cause of the recent financial crisis? Legal engineering centered around balance sheet manipulation easily qualifies. |
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| The Ireland Case: Sovereign Risk and Black HolesThe assessment of sovereign risk can no longer be modeled as a linear causal chain, running from bond price through yield-to-maturity through the refinancing rate. The recent turbulence in the European government bond market, especially the Irish government bonds, illustrates this point. |
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| Rise of the DragonIn May 2007, a Financial Times editorial stated that the cause of the Association of Southeast Asian Nations’ apparent inability to achieve pre-crisis growth rates was the rise of China as “a vast new competitor with an almost limitless capacity to sell at a lower price.” This is a familiar story surrounding the Asian crisis of the 1990s: either blame the victim (an internal cause) or blame the global architecture (the external story). The truth is not so simple. |
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| Dubai Exposes Risks, Averts DisasterWhen Dubai World declared its debt emergency late last year, worst-case scenarios flashed before risk managers’ eyes. Many had been wary of problems still to play out in commercial real estate or sovereign debt, and over-leveraged, over-built Dubai offered dollops of both. |
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