Blankfein Says Emerging Markets Still Better Than in 1998
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Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein said emerging markets can withstand an investor retreat better than in 1998, when currency turmoil forced international bailouts.
“There were a lot of things in ’98 that don’t exist now,” Blankfein, 59, said in an interview today with Bloomberg Television’s John Dawson in Hong Kong while attending the Goldman Sachs Global Macro conference. Those markets now have “better reserves, more flexibility in exchange rates, better policy orientation,” he said.