Will a political ‘lost decade’ upend EM growth hopes?

Emerging-market economies are better equipped to deal with the endgame of the global financial crisis than Western countries. The next decade will see the big emerging markets switch their growth model to trading among their consumer markets, away from the United States and western Europe. But the extent to which this works depends on a slew of political reforms that too many governments have failed to address, warns Kim Catechis, head of global emerging markets at equities specia…