Emerging market countries will contribute to over 60% of global growth this year and will not be impacted by the slowdown in the US, according to Morgan Stanley analysts, despite $27.4bn (â¬17.7bn) of emerging market initial public offerings being shelved in the last six months.
Jonathan Garner, managing director and head of global emerging markets equity strategy at Morgan Stanley, said this week that the decoupling theory- which assumes emerging markets like Asia and South America have developed to the point that they no longer depend on the US and are insulated against the global slowdown- is already under way.
