RE: Russia and Belarus are edging close to default10 Mar 2022 18:38
The default will rattle emerging markets and, to some extent, China. The Chinese property sector remains fragile and vulnerable.
Xi will be very unhappy if Putin dumps on his economy as they try to live with Covid and formalise his unprecedented 3rd term. I read the commentary from GMO, and they favour emerging markets for the next few years. Any defaults would make EMs more attractive.