Concerns are increasing regarding what is happening in the financial markets. Above all, this is because contagion is affecting all geographies and asset classes. This leads us to ask what is driving this new market collapse. Is it the Fed? China? What can we expect in the coming months regarding commodities?
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The tailwinds that Latin America had enjoyed for ten years over 2004 to 2013 (the steady rise of commodity prices, driven up by China, and helpful international borrowing conditions) have now died down and there is no prospect of them returning in the near future.