>>21749463Wouldn't touch any set of emerging-market assets. Setting aside national ideology, US productivity is significantly stronger than much of the world. The closest "peer" would be the EU, trailing, roughly 1-2% behind the US with the differences between the two getting larger in favor of the US. 1-2% difference doesn't sound like a lot—but consider the outlook of such productivity gains 5, 10, 15 years from now.
>5 years = 5-10% difference in>10 years = 10-20% difference>15 years = 15-30% differenceShort-term divergence in productivity is negligible. But over the years, the divergence becomes absolute. Just as an instance, consider the median salaries of EU countries in comparison of the US 15 years ago vs today. The difference becomes larger every year, such is the case of the tyrannical power of compounding effects. As a proxy, you could compare the EU dollar to USD to see productivity gains. So, if you believe the emerging-markets of any asset could compete, yeah, emerging markets are a good bet...
