90.9 WBUR - Boston's NPR news station
Top Stories:
PLEDGE NOW
‘Emerging Markets’ Take A Hit

“Emerging markets” around the world — Turkey, Argentina, South Africa, more – were supposed to be the next big wave of economic energy. Now, they’re in trouble. We’ll ask why.

The going rate of U.S. dollars and euros is displayed outside a foreign exchange business in Buenos Aires, Argentina, Monday, Jan. 27, 2014. The Argentine government announced Friday Jan. 24, it was relaxing restrictions on the purchase of U.S. dollars. The measure would start taking effect Monday, allowing Argentines to buy dollars for personal savings, reversing a 2012 restriction. (AP)

The going rate of U.S. dollars and euros is displayed outside a foreign exchange business in Buenos Aires, Argentina, Monday, Jan. 27, 2014. The Argentine government announced Friday Jan. 24, it was relaxing restrictions on the purchase of U.S. dollars. The measure would start taking effect Monday, allowing Argentines to buy dollars for personal savings, reversing a 2012 restriction. (AP)

Stock markets have been rocked all over the world in the last few weeks, and not rocked in a good way. Falling down. Japan’s Nikkei lost four percent in its last trading day. Wall Street’s been sliding. Of course, the Dow Jones was up 27 percent last year. The Nikkei 57 percent. But still, down is down. And the fingers are pointing at emerging markets. Once up-and-comers, now stumbling. Turkey, Argentina, South Africa, more. The U.S. Fed is giving them fits. But there’s more to it. Real troubles. This hour On Point: global market slide, and what’s going on with emerging markets.

– Tom Ashbrook

Guests

Mike Regan, editor-at-large for Bloomberg News. (@Reganonymous)

Scheherazade Rehman, professor of international business, finance and international affairs at George Washington University. (@Prof_Rehman)

Ian Bremmer, president and founder of Eurasia Group. Author of “Every Nation for Itself: Winners and Losers In a G-Zero World.” (@ianbremmer)

From Tom’s Reading List

The Economist: China loses its allure –“For the past three decades, multinationals have poured in. After the financial crisis, many companies looked to China for salvation. Now it looks as though the gold rush may be over.”

Wall Street Journal: Gobal Companies Address Latin American Risk — “Drooping currencies in Brazil, Argentina and Venezuela have reduced the value of sales there in dollar terms, while inflation has made it hard for many consumers to afford much beyond necessities. Argentina’s heavy government spending and a loose money policy have fueled inflation estimated at more than 25% a year. In Venezuela, inflation is running at more than 50%, and price controls are creating shortages.”

Reuters: Weak U.S. data sends dollar, equities lower — “Emerging market stocks extended a two-week selloff as weak Chinese manufacturing and services data weighed, while the Turkish lira and South African rand weakened after policymakers poured cold water on expectations of higher local interest rates.”

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
Dec 22, 2014
Russian President Vladimir Putin speaks during his annual news conference in Moscow, Russia, Thursday, Dec. 18, 2014. The Russian economy will rebound and the ruble will stabilize, Russian President Vladimir Putin said. (AP)

A weak ruble and a turbulent economy. We look at Putin’s Russia and what its economic free fall means.

Dec 22, 2014
A sample of some of the costumes on display at the fall 2014 "Dance & Fashion" exhibition at New York City's Museum at FIT. (AP)

Couture fashion exhibits are drawing record crowds at museums. We’ll look at the beauty and the art behind the glitz.

RECENT
SHOWS
Dec 19, 2014
Soledad, and from left, Nina Pastori, and Lila Downs perform on stage at the Latin Recording Academy Person of the Year Tribute honoring Joan Manuel Serrat at the Mandalay Bay Resort and Casino on Wednesday, Nov. 19, 2014, in Las Vegas. (AP)

From crossover hits to hip-hop to soul, we look at a big year in the wide world of Latin music.

 
Dec 19, 2014
Alan Gross, waves as he and his wife Judy leave following his statement at his lawyer's office in Washington, Wednesday, Dec. 17, 2014. Gross was released from Cuba after 5 years in a Cuban prison. (AP)

Cuba reset. Russia’s rubble troubles. School massacre in Pakistan. Jeb explores 2016. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
Our Week In The Web: December 19, 2014
Friday, Dec 19, 2014

Rage, shortlinks and things you people seem to be into, we guess. Also, Putin.

More »
Comment
 
Cosby Accuser Beverly Johnson: ‘He's A Black Man. I Had To Separate The Trayvon Martins, The Michael Browns From What Happened To Me’
Tuesday, Dec 16, 2014

Beverly Johnson accused comedian Bill Cosby of drugging her in a high-profile Vanity Fair column. She tells us why she waited so long to share her story, and why it was even harder to share now.

More »
3 Comments
 
Our Week In The Web: December 12, 2014
Friday, Dec 12, 2014

On listener engagement, the meeting of trans-Atlantic royalty and the elusive origins of the chicken. (We promise this feed hasn’t been taken over the BBC…yet)

More »
Comment