We recently summarized the world's developed markets in one simple table [4] and there was much 'redness' to go around. The following table provides a similarly broad-based view of the world's developing nations. Citi's Early Warning System heat-map provides an at-a-glance perspective of the emerging market currencies at most (and least) risk based on 12 indicators of economic and financial stress. As currency wars migrate contagiously from developed money-printers to developing 'growth engines' the table below suggests Hungary and South Africa at most risk and China and Thailand least.
Click image for legible huge version...
[5]
and the trend...
[6]
and what is behind the EWS Signal...
[7]
Source: Citi