One might assume that emerging markets (EMs) bore the brunt of the challenging, tough economic conditions that prevailed from the monumental monetary tightening that intensified worldwide during 2023.
And yet, JPMorgan Chase noted on December 14 that while the eurozone, the United Kingdom, Canada and China disappointed, it was those emerging economies that “ended up surprising positively”, with the likes of India, Mexico and Brazil defying expectations and remaining resilient amid a deteriorating global macroeconomic environment.
