🎙️ EP. 72 —Trump Cards: EM Debt, Tariffs & the Dollar

We’re joined once again by Beth Morrissey of Kleiman International Consultants to unpack Trump’s tariffs, dollar dominance, and the latest wave of EM debt restructurings. Why is EM unique, and what can history teach us about today’s turbulence?

We also dive into her new book, Emerging Economies and Financial Markets-A Career-Tested Approach to Analyzing the Markets

🔗 Follow Beth’s work:

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🎧 Related Episodes on Emerging Markets:

• Pyramids of Pressure: Egypt’s Economic Balance
• Trade War 2.0: BRICS on the Brink in 2H25
• Counting the Cost: Inside Syria’s Economy

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Chapters

• 0:31 Beth re-introduction
• 1:58 Market volatility since Trump re-election
• 3:33 Trump tariffs
• 10:28 Pressure on the Dollar
• 14:09 US stock market
• 16:58 Investors dumping US assets?
• 20:41 Evading tariffs
• 22:22 China rising?
• 25:22 EM debt restructurings
• 27:06 Gulf chequebook diplomacy
• 30:20 Syria
• 32:52 Beth's new book
• 40:33 US withdrawal from global leadership?
• 42:57 What will happen if Powell goes?
• 45:26 EM in the next decade
• 48:00 Upcoming projects