- "We believe that companies from emerging countries will increasingly make acquisitions in OECD countries."
- "The reasons are as follows:
• emerging countries have high savings and large reserves that are often invested poorly, while OECD countries have low savings that will, moreover, be consumed to finance fiscal deficits for many years:
• corporate valuations are higher in emerging countries, due both to the demand for equities and the growth outlook;
• emerging-country currencies should, in the long run, appreciate against the currencies of OECD countries."
- "The changing nature of capital flows from emerging countries to OECD countries should gradually lead to a rise in long-term interest rates and share prices in OECD countries."
- "The reasons are as follows:
• emerging countries have high savings and large reserves that are often invested poorly, while OECD countries have low savings that will, moreover, be consumed to finance fiscal deficits for many years:
• corporate valuations are higher in emerging countries, due both to the demand for equities and the growth outlook;
• emerging-country currencies should, in the long run, appreciate against the currencies of OECD countries."
- "The changing nature of capital flows from emerging countries to OECD countries should gradually lead to a rise in long-term interest rates and share prices in OECD countries."
Natixis Flash Economics 387 20100730
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