Goldmans backs Asia stance

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By Kira Nickerson Goldman Sachs sees emerging markets exposure as the best defence against a hard la...

By Kira Nickerson Goldman Sachs sees emerging markets exposure as the best defence against a hard landing for the world economy. The group is forecasting a 'no landing' scenario due to persisting severe financial imbalances in the US, Euroland and Japanese economies. Goldmans favours Asia as it is the best positioned to cope with a hard landing, while Latin America looks cheap due to its vulnerability to a hard landing. Gavyn Davies, chief international economist at the group, said: "Despite the slowdown in US growth observed in the latest quarter, we remain of the view that the G3 ce...

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