Why the falling US dollar is igniting a massive emerging market supercycle

About this episode

The episode discusses the implications of the falling US dollar on emerging markets, featuring insights from experts on global growth engines India and China.

2025 was a record-breaking year for Emerging Markets, seeing the largest capital inflows in over a decade. But is this a short-term flight from the US dollar, or the beginning of a structural "EM Supercycle"? In this episode, we sit down with Malcolm Dorson (Senior PM & Head of EM Strategy) and Billy Leung (Equity Research Analyst) from Global X to dissect the two engines of global growth: India and China. We explore why the "uninvestable" tag is fading from China, how India is carving a unique path through its landmark 2026 Free Trade Agreement with Europe, and why a 1% drop in the US dollar could be the most important signal for your portfolio. In this episode we cover: The Great EM Rotation The "February Surge": Breaking down why we just saw the largest inflows into EM in 11 years. Is it "choice" or a "flight from the US"? Early Innings: Exploring Global X’s thesis on whether we are at the start of a multi-year Emerging Market cycle. The 3.1% Rule: The Dollar & EM The Inverse Relationship: Understanding the mechanics of why EM equities historically rise 3.1% for every 1% drop in the US dollar. Currency Risk: How to manage FX volatility when investing in volatile regions…

People in this episode

Guests: Malcolm Dorson, Billy Leung

Topics covered

• Emerging Markets
• US Dollar
• Global Growth
• Investment Strategies
• China and India
• Currency Risk

Keywords

• Emerging Markets
• US Dollar
• Capital Inflows
• Investment
• China
• India
• Currency Risk
• Tech Self-Reliance

Mentioned in this episode

Organizations: Global X

Places: India, China

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