1/n Just finished listening, need a 2nd listen but few things made me jump off my exercise bike... 1. rule #1 in finance is if has not been done before, it is probably because it does not work
2.Turkey never had real rates of 20% pre 2012 be it ex ante or ex post / fx adjusted
2/xx The EM "Miracle" /decoupling from 2008-13 was based on 2 factors
a. the relative quality of EM's balance sheet after the GFC
b. China's demographics bringing workforce to manufacturing sector, exporting cheap labour vs buying ginormous amounts of commods from.. other EM