Although no one knows what will happen next in the world of emerging-market debt, Harvey is optimistic. "I think the force of globalization, the force of slow and steady growth rather than a kind of saw-tooth pattern in the U.S., and the gradual reduction of overall geopolitical risk all work favorably for emerging-markets bonds and equities." Consequently, he adds, "It's difficult to make the case that you should not be in emerging-market bonds."
The Sleeper That Soared
December 1, 2003
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