probably yes.
two groups of countries in the GDP level
- Brazil, India, Russia, Canada
- Spain, Mexico, Korea
but all countries are in the same constant GDP level except India.
because of larger contribution of currency appreciation in Brazil, Russia, Canada.
mostly due to the commodity boom of past decade.
mean reverting is seen in the weakest link recently.
in Russia and less evidently Brazil.
but nobody doubts Canada as a next victim.
only difference is that canada is next to US like mexico.
is it enough reason for survival of canada from the the the next turmoil?
definitely no.
canada was in the highest of the overlapped boom/bubble of energy, house and currency.
just see inflation coming.
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