Emerging Markets Newsletter

Semester 2 Week 8

Hey Legend!

Happy Monday and welcome to Week 8! 🥳

Week 8 is here, two more weeks until mid-sem break 😇. Time to push through and bank those study hours so break actually feels like a break 🏖️.

Whilst we have been fretting about our midsems and assignments 📝, Gen Z in Nepal just protested their PM out of office 🪖🏹 and elected a new one via discord 💬. Let that be some food for thought the next time you complain about the cost-of-living 🫶.

Meanwhile in Indonesia, students are filling the streets over inequality ⚔️ and government perks 🤑. Uni might feel intense right now, but at least your group project hasn’t ended in tear gas 🤕.

Take a breath, pace yourself 😌, and remember, midsem break is just around the corner.

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The Numbers

Global markets were broadly positive over the week, with U.S., emerging markets, commodities and Bitcoin all advancing. In particular, gold reached inflation-adjusted record highs as demand continues to grow. The only notable laggard was Australian equities, which edged lower.

The Roundup

China faces tariff disputes, diplomatic setbacks in the Pacific, and growing scrutiny over its expanding military presence. India is grappling with surging housing costs and pushing market reforms while bolstering its regional influence abroad, even as cricket tensions with Pakistan flare. Africa shows strong economic and market momentum, though inequality, political pressures, and security challenges continue to test stability.

India

Stay ahead with the latest from India’s economy, markets, and global strategy - plus the hottest sports clash keeping the nation on edge! 🌏📈 From soaring home prices to high-stakes cricket, here’s what’s shaping headlines this week. 🏏💥

• Home prices in India are surging as wealthy buyers drive demand and affordable housing supply dwindles, leaving millions priced out of ownership and stuck in costly rentals. 🏠📈 With few well-paying jobs concentrated in major cities and stagnant wages, the gap between what people need and what’s available could hit 30 million units by 2030. 🏘️⏳

• SEBI has introduced sweeping reforms to boost market access and flexibility, launching the SWAGAT-FI single-window system to simplify entry for low-risk foreign investors like sovereign and pension funds. 🏦✍️ For large IPOs of companies with market cap above ₹5 trillion, only 2.5% of shares now need to be offered, with extended timelines of up to 10 years to meet the 25% public shareholding norm. 📉📊

• India has announced a $680 million aid package for Mauritius to strengthen healthcare, infrastructure, and maritime security, countering China’s influence in the Indian Ocean. 🌍🚢 The deal includes a new hospital, port upgrades, helicopters, and surveillance of the Chagos Marine Protected Area. 🏥⚓ India will also set up a satellite tracking station near Diego Garcia to boost regional monitoring. 🛰️🔍

• India and Pakistan prepare for a high-stakes Asia Cup showdown on Sunday, their first since the four-day military conflict in May, amid calls for restraint from captains and cricketing legends alike. 🏏😠Emotions remain raw following the Pahalgam terror attack, with criticism aimed at India’s cricket board for agreeing to play Pakistan in a multi-team tournament despite public pressure and boycott demands. 🤐

China

This week, we take a look at the growing political dispute between Mexico and China over tariffs, looming high profile US tariff negotiations and political setbacks in the Pacific. Meanwhile, China’s latest aircraft carrier enters final stage testing.

• Beijing and Washington confirm high-level economic talks in Spain, with “key national security, economic and trade issues” and TikTok on the agenda. The host nation, Spain, is also using the opportunity to strengthen ties with China 🤝, underscored by the Spanish governments announcement that King Felipe VI is set to travel east later in November on a 4-day trip ✈️👑.

• China has accused America of coercing Mexico to impose 50% tariffs on Chinese cars 🚗, vowing to “firmly protect our rights and interests”. The move comes as President Trump aims to close the “back door" 🔒🚪 for Chinese goods entering U.S. markets. Washington has also reportedly urged 🗣️ the EU to impose 100% tariffs on Chinese imports as part of its aggressive foreign policy ⚔️🌏.

• Chinese efforts to exclude Taiwan from the Pacific Islands Forum (PIF) end in failure after Pacific leaders refused 🙅‍♂️ to declassify it as a “developing partner” 🤝 — marking a significant setback for China’s regional influence. This latest episode follows last year’s political dispute, during which Chinese diplomats aggressively lobbied to end Taiwan’s 1992 PIF agreement 🌊📝.

• Fujian on the move! After years of construction and trials, Chinas latest state-of-the-art aircraft carrier has entered final testing after being deployed to the South China Sea to conduct training 🪖 and research 🔬 exercises. However, the Fujian’s route has raised alarms 🚨amidst heightened regional tensions ⚠️ after sailing through the Straight of Taiwan and near the disputed Senkaku islands 🗾.

Africa

Africa’s September momentum has been defined by strong financial gains 📈, big political shifts 🗳️, and ongoing challenges around inequality ⚖️ and infrastructure 🏗️. Optimism is high, but leaders face growing pressure to make growth more inclusive while tackling security risks 🔒.

• Africa is on track for 3.6% growth in 2025 📊 despite global turbulence. Tourism is booming ✈️🏝️, with Morocco and South Africa leading surges in arrivals and jobs. But questions about inequality are rising after Tanzania crossed 2,100 millionaires 💰 while its wealth gap continues to widen ⚖️.

• African stock markets are some of the world’s top performers 🚀. Seventeen major exchanges have climbed 41% in USD terms this year, outpacing the US and Europe 🌍. Malawi, Zambia, and Ghana are front-runners, supported by steady currencies 💵 and local investment. Meanwhile, fintech keeps expanding 💻📱, with Morocco rolling out real-time cross-border payments 🔗 and several countries issuing tokenized bonds to fund infrastructure 🏗️.

• Malawi prepares for elections amid concerns about independence of institutions 🏛️⚖️. In South Africa, the Steve Biko inquest reignited debate on historic political accountability 📜. Sudan continues to struggle with violence 🔥, as mediators push for a ceasefire roadmap 🕊️.

• Tanzania’s presidential race heated up 🔥 as opposition candidate Luhaga Mpina was cleared to run ✅, reversing an earlier ban and energizing the push for wider democratic space 🗳️. In the DRC, a tragic riverboat sinking claimed more than 100 lives 🚢⚠️, highlighting the urgent need for safer transport and stronger oversight 🛟.

See you all next week!

We hope you enjoyed reading our newsletter! There are plenty of facts for you to drop in your next conversation to sound more intelligent. Make sure to share this artistic marvel with a friend!

Good luck for your studies, we know you smart cookies will smash it.

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The EMN Team 💚

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