Globalization is good. That's the message leaders of developing countries want to send from the Davos forum to U.S. President-elect Donald Trump, who takes office on Friday.
In 2014, Arnold Kamler, CEO of New Jersey-based Kent International, took a big step: he resumed making bicycles in the United States, 23 years after uprooting production to China. This year, he hopes to sell half a million U.S.-made bikes.
Oil prices edged down on Friday but headed for their biggest annual percentage rise since 2009, with world stocks also up nearly 6% over the year despite concerns over China's slowing growth and weakening currency.
Global investors bought real estate, added to cash holdings and cut equity allocations to the lowest in at least five years as this month's shock Brexit vote added to an already toxic mix of sluggi
Three months into an emerging market rally, investors are still waiting for the uptick in growth and exports needed to keep the rebound from fizzling out. So far, the rally has been about investment funds re-positioning after long avoiding what are markets with a track record for volatility. Now they are closing their eyes to a dour economic picture and betting long-term valuations are cheap enough to warrant some exposure.
Money is fleeing emerging markets en masse in 2015 for the first time in 27 years and few global investors are tempted to return to equities, currencies or bonds there as many of the populous economies defining the asset class slow inexorably.
Investors pulled a combined $75 billion from U.S. and emerging market equity funds in the third quarter, wiping a record $10 trillion off the value of global equities in the period, according to EPFR Global and Bank of America Merrill Lynch
