Rockefeller International Ba\u015fkan\u0131 Ruchir Sharma\u2019ya g\u00f6re g\u00fcn\u00fcm\u00fczde k\u00f6t\u00fc durumda olduklar\u0131n\u0131 d\u00fc\u015f\u00fcnsek de geli\u015fmekte olan \u00fclkeler o kadar k\u00f6t\u00fc durumda de\u011fil.<\/p>\n
Sharma\u2019ya g\u00f6re 150 geli\u015fen ekonomi aras\u0131nda s\u0131k\u0131nt\u0131l\u0131 b\u00f6lgeler hep olacak. Ancak bir\u00e7ok de\u011ferlendirmeye g\u00f6re geli\u015fen \u00fclkelerin n\u00fcfusunun y\u00fczde 70\u2019ine ve gayri safi yurt i\u00e7i has\u0131las\u0131n\u0131n (GSYH) y\u00fczde 90\u2019\u0131na sahip olan en b\u00fcy\u00fck 25 geli\u015fen \u00fclkenin finansal a\u00e7\u0131dan g\u00fc\u00e7l\u00fc durumda.<\/p>\n
Sharma, \u201c2013\u2019e g\u00f6re cari hesaplar\u0131 a\u00e7\u0131ktan fazlaya ge\u00e7ti, GSYH\u2019nin y\u00fczde 3\u2019\u00fcn\u00fcn \u00fcst\u00fcnde olan endi\u015felendirici bor\u00e7 her on devletin \u00fc\u00e7\u00fcnden her on devletin birine d\u00fc\u015ft\u00fc. Kur rezervleri GSYH\u2019nin y\u00fczde 19\u2019undan y\u00fczde y\u00fczde 26\u2019s\u0131na \u00e7\u0131kt\u0131. Kurlar\u0131 dolar kar\u015f\u0131s\u0131nda varl\u0131k azalt\u0131m\u0131 d\u00f6neminde ya\u015fanan dalgalanmalar\u0131 i\u00e7in kullan\u0131lan \u201ctaper tantrum\u201d d\u00f6neminde oldu\u011fundan ortalama y\u00fczde 40 daha ucuz\u201d dedi.<\/p>\n
Sharma, \u201c1990\u2019lardaki krizler \u00fclkeleri finansal kurumlar\u0131n\u0131 d\u00fczeltmeye zorlad\u0131 ve bu da 2000\u2019lerdeki ekonomik patlamay\u0131 sa\u011flad\u0131. 2000\u2019lerdeki cari fazla 2010\u2019lardaki cans\u0131zl\u0131\u011fa yol a\u00e7t\u0131. Pandemiyle reforma zorland\u0131lar ve yeni bir sa\u011flam \u00e7\u0131k\u0131\u015f i\u00e7in haz\u0131rlar\u201d diye konu\u015ftu.<\/p>\n
Geli\u015fmi\u015f \u00fclkelere aralar\u0131ndaki b\u00fcy\u00fcme makas\u0131n\u0131n kapanmas\u0131yla geli\u015fen \u00fclkelere k\u00f6t\u00fcmser bak\u0131ld\u0131\u011f\u0131n\u0131 fakat fark\u0131n yar\u0131m puandan neredeyse y\u00fczde 3 puana yeniden a\u00e7\u0131lmaya ba\u015flayaca\u011f\u0131n\u0131 s\u00f6yleyen Sharma, dolar baz\u0131nda en iyi getiri sa\u011flayan 10 Borsan\u0131n hepsinin geli\u015fen ekonomilerde oldu\u011funu da ekledi.<\/p>\n
S\u0131k\u0131nt\u0131l\u0131 zamanlarda \u00fclkeyi terk edecek yabanc\u0131 sermayenin \u00fclkeyi 2022\u2019nin ba\u015f\u0131ndan \u00f6nce \u00e7oktan terk etmi\u015f oldu\u011funu belirten Sharma, bunun geli\u015fen piyasalar\u0131n ABD\u2019den daha iyi gitmesinin bir sebebi olabilece\u011fini d\u00fc\u015f\u00fcnd\u00fc\u011f\u00fcn\u00fc s\u00f6yledi. Yabanc\u0131lara g\u00f6re piyasa hareketlerini daha iyi tahmin eden yerli yat\u0131r\u0131mc\u0131lar\u0131n ise son \u00e7eyreklerde net al\u0131m yapt\u0131\u011f\u0131n\u0131 da belirtti.<\/p>\n
Sharma, \u201cGeli\u015fen piyasalar para politikas\u0131nda da \u00f6nde. Normalde Fed\u2019i takip ederler ama bu sefer merkez bankalar\u0131 g\u00fc\u00e7s\u00fcz kurlar\u0131n\u0131n bask\u0131s\u0131yla 2021\u2019in ba\u015f\u0131nda, Fed\u2019den bir y\u0131l \u00f6nce s\u0131k\u0131la\u015fmaya ba\u015flad\u0131. Sonu\u00e7 olarak enflasyonla m\u00fccadelede \u00f6nlerinde daha az i\u015f var. En az son 20 y\u0131ld\u0131r ilk kez geli\u015fmi\u015f \u00fclkelerde y\u00fczde 5 \u00fcst\u00fc enflasyon ya\u015fayan \u00fclke say\u0131s\u0131 geli\u015fmekte olan \u00fclkelerden daha fazla\u201d dedi.<\/p>\n
K\u00f6t\u00fcmserlerin artan kamu borcunu i\u015faret etti\u011fini s\u00f6yleyen Sharma, ABD ve di\u011fer geli\u015fmi\u015f piyasalarda art\u0131\u015f\u0131n daha h\u0131zl\u0131 ger\u00e7ekle\u015fti\u011fine ve ABD\u2019nin b\u00fct\u00e7e a\u00e7\u0131\u011f\u0131 y\u00fczde 4\u2019e yakla\u015f\u0131rken geli\u015fen piyasalar\u0131n b\u00fct\u00e7e fazlas\u0131 verdi\u011fine dikkat \u00e7ekiyor.<\/p>\n
Sharma \u201cStagflasyonlu 1970\u2019lerle kar\u015f\u0131la\u015ft\u0131r\u0131lan bir ekonomik ortamda para yeni yuvalar arayacak. 1970\u2019lerin geli\u015fen d\u00fcnya i\u00e7in \u00f6nemli bir on y\u0131l oldu\u011funa dikkat edilmesi gerekiyor. O zaman da \u015fimdi oldu\u011fu gibi emtia fiyatlar\u0131 artm\u0131\u015ft\u0131 ve geli\u015fmekte olan \u00fclkeler emtian\u0131n \u00f6nemli ihracat\u00e7\u0131lar\u0131. Geli\u015fmekte olan \u00fclkeler yeni bir bak\u0131\u015f\u0131 hak ediyor\u201d dedi.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rockefeller International Ba\u015fkan\u0131 Ruchir Sharma\u2019ya g\u00f6re g\u00fcn\u00fcm\u00fczde k\u00f6t\u00fc durumda olduklar\u0131n\u0131 d\u00fc\u015f\u00fcnsek de geli\u015fmekte olan \u00fclkeler o kadar k\u00f6t\u00fc …<\/p>\n","protected":false},"author":6,"featured_media":36802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[55,1774],"class_list":["post-36801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-piyasa","tag-ulkeler"],"yoast_head":"\n