Carson Block: EM Sell-Off Shows Risk of Standard Chartered Operations

Carson Block is the director of research for Muddy Waters, an investment firm. Analysts across Wall Street are just beginning to warn investors about trouble brewing in emerging markets. The International Monetary Fund this month downgraded its global growth forecast for the rest of 2013 and next year, citing a big slowdown in emerging market economies because of higher interest rates, asset price volatility, weaker domestic activity and currency depreciation. We have been outspoken about the risks in emerging markets for some time, most recently reflecting on Standard Chartered’s large exposure to China, India and Southeast Asia, and the fact…