Dear readers, while Singaporeans may lament the high cost of living in Singapore at times, do you know that a litre of milk could cost a third of one’s wage? Yes, one litre of milk could cost as much as the aforementioned in Venezuela where hyperinflation hits 10 million percent!
This is just one of the snapshots shared by Epic Economist in its video above. A snapshot which suggested that emerging markets are not doing well economically. For example, South African stocks are on track for the worst third quarter since year 2011. Argentina just suffered the second biggest crash since 1950 for any stock market. And the unemployment and poverty in Brazil are getting worst.
Are what the signs in the emerging markets showing pointing to the slowing economy globally? Is a recession coming after a hiatus since year 2009?
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