Commentary
Since the fadeout of the first round of the banking crisis, the market has calmed down as if nothing had happened. Recession probability edged up, but most believe advanced economies would be in more trouble than emerging economies. This has also been the standard tone of international organizations like the International Monetary Fund (IMF). In their latest outlook, they are also more bullish on emerging economies in quite many aspects as usual. However, casual observation suggests this is not the case if we focus on bust rather than boom.
