Sovereign wealth fund redemptions hurting Emerging economies

The whole of West Asia is in kind of depreciation and the whole resource sector is badly affected because of that. The resource producing countries whether it is Brazil or South Africa or Russia and suppose they all are suffering.

The great rally from Year 1980 to 2015 is ending

In my view the great asset inflation that we had in 1980 to last year is coming to an end.

Raising rates by US Fed is an "achievement"

The recent economic indicators around the worldare all weakening. In the US, they are down close to 7 per cent. After not having increasing rate since 2008, Yellen increased the rates before the recession. That is an achievement.