Japan behind EM lending surge

BIS data showing Q1 spike in cross-border lending to emerging markets says as much about Japanese banks as it does about growth.

Japan behind EM lending surge

The September 2013 quarterly review by the Bank of International Settlements highlighted soaring cross-border lending to emerging markets, suggesting the economic growth story for these countries is on track, albeit at a gentler pace. However, the flows may be as much about Japan, Abenomics and the retreat of European banks as it is about growth prospects in China, Brazil and elsewhere.

The quarter saw cross-border lending to emerging markets total $267 billion, an increase of...

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