President Trump’s protectionist sabre-rattling has unnerved emerging-market investors. Developing countries tend to be more trade-dependent than the industrialised world, so trade barriers would hurt them more. This is why investors are increasingly eyeing up emerging markets with large domestic economies that shield them from the turbulence, says Assif Shameen in Barron’s.
Enter Indonesia, where exports account for only a fifth of overall output, and a 250-million-strong population underpins a large domestic market. More broadly, “there’s a sense it’s all coming together”, as Centennnial Asia’s Manu Bhaskaran told Barron’s. President Joko Widodo has made [...]