Investors will recall 2015 as a mediocre and trying year. The memorable events were the Greek saga, the commodity market rout, the Chinese devaluation and the first rate hike in the US in over a decade. To everyone’s surprise, the economic slowdown in China had the largest impact on global markets, with the fear of competitive devaluation re-emerging. However, the consensus among market pundits was that the emerging markets economic slowdown would not be able to derail the developed market recovery. Our world has never been economically and financially interconnected to that extent. The global economic power shift away from established to developing economies is no longer questioned and projections for the coming years are further supporting this trend.
Read more in the document below