He sees countries with an above average risk such as Indonesia, Brazil and Turkey to benefit first and relatively lower-risk countries such as Russia, Philippines and Poland to catch up later in the year.
China is by far the largest emerging markets economy and the recovery there is already well underway, albeit a bit unevenly. Retail sales and fixed assets investments are lagging. For 2021, Hammarlund projects growth of 8 per cent in China.
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