Emerging markets: All fall down
Firms in developing countries struggle to escape their roots
STOCKMARKET bubbles often take a genuine improvement in economic or corporate performance, and then vastly overestimate its effect. Equity investors in emerging markets must wonder if they have once again been suckered into giving developing countries the benefit of the doubt. Prices have fallen by almost half this year. On October 6th emerging-market shares recorded their biggest one-day fall in at least 20 years, prompting all-too-familiar scenes of chaos followed by enforced inactivity, as trading at some bourses was suspended.
For bullish investors one attraction of emerging economies was the fact that they had started with better public finances and balance-of-payments positions than in previous cycles. How resilient those positions are is now being tested, as plunging commodity prices sap export earnings and capital flows dry up. Even sound economies may still be dragged down. As Stephen Jen, an economist at Morgan Stanley, points out, in a crisis “bad things happen to good countries”. …
Burlington, VT, United States,Financial Reporting Accountant,Corporate
Job #: 847114 Posted: Sep 12, 2008 Job Description: Responsibilities 1. Perform accounting and analysis for all P&Ls across various ledgers. 2. Participate in monthly closing process for various ledgers. 3. Perform monthly and quarterly account reconciliations. 4. Analyze balance sheet variances and perform quarterly and monthly account reconciliations. 5. Perform special analysis as required and recommend solutions to complex business issues. 6. Assist assigned area in meeting all financial …
Commercial Finance Manager
Ge Infrastructure, Water (Philadelphia, Pennsylvania) CITY: Trevose STATE: Pennsylvania COUNTRY: USA Essential Functions (Responsibilities): The Commercial Finance Manager will provide strategic and operational financial leadership for the Central ($150M
longfellow :: Oct.19.2008 ::
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