How will the World’s Largest Emerging Market Economies Fare in 2015?

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Large emerging market economies will experience mixed fortunes in 2015. Russia is the standout performer, for all the wrong reasons. Much of their success is likely to boil down to their macro-economic fundamentals and reform programmes, with those with large current account deficits on the whole more vulnerable than those without. A key theme for the year will be policy reform with India and Indonesia making a strong start, Mexico is in the midst of a reform programme and even the Brazilian government is beginning to move away from unorthodox policy to a more pragmatic approach.