By Maria Levitov
January 23, 2014
Emerging-market stocks fell (click here) the most in two weeks after data showed Chinese manufacturing contracted. Turkey’s lira pared losses as the central bank unexpectedly intervened in the market for the first time in two years.
Why wouldn't it contract? The companies that set up shop in China don't care about quality just 'quick fix' profits from cheap labor? Why wouldn't they contract? What ORIGINAL market emerged from China? These are all westernized companies that have taken advantage of human beings without the minimal safety laws. They are so poorly paid they can't even be a customer to the products they produce. WHAT emerging markets? These people can't purchase anything and when they do it is because the quality of their native products are so poor they turn to imports from The West. That is an emerging market? Poverty is an emerging market? Please tell me Wall Street isn't this stupid?
The MSCI Emerging Markets Index retreated 0.7 percent to 969.88 as of 10:38 a.m. in London, the largest slide since Jan. 9. The Hang Seng China Enterprises Index sank 2.1 percent, the steepest decrease since Jan. 3. The lira depreciated 0.5 percent versus the dollar after falling as much as 1.7 percent in the longest losing streak since 2001, while South Africa’s rand weakened for a second day. Ukraine’s stocks lost 1 percent, extending a rout after clashes between police and protesters turned deadly....
