Those countries have become so embedded in the global economy that they are ‘no longer simply on the receiving end of global shocks,’ the IMF said Tuesday
Domestic shocks in emerging economies in the G20 are increasingly impacting growth in the rich world, according to a report published on Tuesday by the International Monetary Fund .
Domestic shocks in China can explain as much as 10 per cent of output variation in other emerging markets after three years, and 5 per cent in advanced economies, while shocks from other the G20 emerging markets account for as much as 4 per cent of variation in other emerging and advanced economies, it said.
Overall, spillovers have increased almost threefold since the early 2000s, led by China, while spillover risks from Brazil, India and Mexico have also grown moderately.
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