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The bulls return to emerging markets

India s pandemic turmoil hits emerging markets

© Naveen Sharma/SOPA Images/LightRocket via Getty Images “India’s problem is the world’s problem”, says Yasmeen Serhan in The Atlantic. Just weeks ago, the country thought it had put the Covid-19 pandemic behind it. Then it reported more than a million new cases and over 8,000 deaths over a three-day period, setting grim new global records in the process. As the virus sweeps through developing countries “the world is on track to record more Covid-19 deaths this year than it did in 2020”.  Difficult months ahead  India’s tragedy has exposed a fragile medical system, says Michael Safi in The Guardian. It spends just 1% of GDP on its state healthcare service, one of the lowest figures in the world. The country was the world’s biggest vaccine producer heading into the pandemic but vaccinating 1.39 billion people is no easy task: less than 10% of the population has received a first shot.  

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