Emerging Market Quotables (June 5, 2017)

Actionable emerging market investing quotes from http://www.emergingmarketskeptic.com

Also check out our emerging market ETF lists, ADR lists and closed-end fund lists along with our general investing tips / advice and our new list of Brazil ADRs / Stocks.

---

Greece Offers Opportunities For Investors Willing to Take Risks (FT)

From cinemas to gold mines, foreign companies are expanding into the challenging Greek market as Greece offers opportunities rarely found in central and south-east European markets. … The largest recent investment by a multinational company is by Philip Morris International, which is spending €300m to transform Papastratos, its Greek subsidiary, from a traditional cigarette manufacturer into a producer of “smokeless” tobacco sticks that are heated in a handheld electronic device…

Puerto Rican Exodus Is Speeding the Island’s Economic Collapse (Bloomberg)

The exodus from Puerto Rico means economic resurgence will be tougher as the Commonwealth lost 2% of population in each of past three years. 

Venezuelan Opposition Threatens Country Won’t Pay Goldman Sachs’ $2.8B Bond Deal (CNBC)

Julio Borges, leader of Venezuela’s National Assembly, has said that a future Venezuelan government may not pay $2.8 billion in bonds that Goldman Sachs purchased for as little as 30 cents on the dollar. 

South Korea Learns Not to Annoy China as Their Tourist Numbers Fall (CNN Money)

Beijing is believed to have told travel agencies to stop selling trips to South Korea as the country has suffered a 40% plunge in Chinese visitors last month. Chinese tour groups have been canceling trips because of anger over the deployment of a controversial U.S.-built missile defense system in South Korea. 

How China’s Middle Classes Move Their Money Abroad (SCMP)

China Consumer Confidence Index Reaches Highest Level in Two Years (Nielsen)

According to Nielsen, China’s Consumer Confidence Index (CCI) reached 110 points in the first quarter of 2017, up two points from last quarter and the highest score since 2015. The current figure suggests that along with the stable growth of individual income, Chinese consumer confidence continues to rise. 

China’s Seniors Will Reshape the World (Bloomberg)

China’s old people have growing consumer clout and companies are catching on. 

Behind China’s $1 Trillion Plan to Shake Up the Economic Order (Independent)

At the heart of China’s economic ambitions is the construction of a railway linking eight countries, but what effect will it have on the wider region? 

How Does Tencent Compare With World’s Tech Titans? (Forbes)

With interests as diverse as gaming and mobile payments, Tencent Holdings (OTCMKTS: TCEHY; OTCMKTS: TCTZF) recently announced record earnings for the first quarter of 2017 – a staggering $7.2 billion. 

Recent Moody's Rating Actions on Greater China

Moody’s Downgrades China’s But Changes Outlook to Stable From Negative (Moody’s)

Are China’s Hidden Liabilities Behind Moody’s Ratings Downgrade? (Fiscal Times)

Moody’s didn’t report the “hidden liabilities” the Chinese government had been paying off over the past two years to failed state-owned companies. They created a kind of Troubled Asset Relief Program (TARP) and may soon have to bail out the banks that got stiffed on the loans they made. 

Moody’s Changes Macau’s Outlook to Stable From Negative (Moody’s)

Moody’s Downgrades Hong Kong’s Rating to Aa2 From Aa1; Raises Outlook to Stable from Negative (Moody’s)