VWO - VWO: Turkish Lira May Be 'Canary In The Coal Mine' For Shifting Emerging Markets

• After a strong rally back to historical resistance, emerging market stocks have slipped as Turkey sees a devaluation and the Archegos collapse creates pressure.
• The COVID-19-caused manufacturing boom in China is showing signs of ending as U.S. retail sales drop.
• Fewer economic risks are apparent in South America, Russia, and South Africa which have seen export values increase with the weak U.S. dollar.
• VWO may be poised for greater declines due to its extreme concentration in China, Taiwan, and India.
• Emerging market investors may be better off with single-country ETFs or those that exclude China.

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