Emerging markets averting global recession - Hexam

Akopian, the Hexam EMEA Absolute Return fund manager, says cash-rich emerging market players are currently asserting unprecedented influence over large Western economies and corporations. She points to the recent woes of US giants Freddie Mac and Sally Mae which have been substantially financed by the Russian Government. The emerging markets contribution to global growth is expected to reach 61% this year, up from in 47% in 2007. Akopian feels Russia, Latin America and parts of Asia are in a strong position to weather the US slowdown, as only 19% of emerging market exports now go to Amer...