Previously, we have discussed the fall-off in the credit rating for the Euro-area as well as the rise in the credit rating for emerging economies (see roadshow presentation at end of 2011). However, it is interesting to see a breakdown of emerging market credit ratings by major region, namely Emerging Asia, South America, Sub-Saharan Africa and Emerging Europe.
On this basis it is very clear that Emerging Asia is the main force behind the rise in the overall credit rating for emerging markets. In other words, Asia is not just the growth engine of the world, but also appears to be managing its economic fundamentals relatively well. It is impressive to see that the credit rating for Emerging Asia has risen throughout the past four years, despite the global financial credit and Great Recession.
Download the presentation slides