Reality Check Looms for Emerging Markets on Trade and China
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A container ship approaches the Haicang Bridge in Xiamen, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Sputtering progress toward a trade deal and signs of weakness in the Chinese economy are looming as the biggest threats to the wave of optimism spreading across emerging markets.
Before Friday, developing-nation stocks had touched the highest level since May and currencies held near a three-month high. Then President Donald Trump rattled traders by saying the U.S. hadn’t agreed to a tariff rollback with China, dimming hopes for a preliminary trade deal next month. Beijing wants a deal “much more than I do,” Trump weighed in again on Saturday.