Mark Mobius, Singapore-based executive chairman of Templeton Emerging Markets Group, on Wednesday dismissed Donald Trump's pledge to build a wall between the U.S. and Mexico as a “joke,” but he said the leading Republican presidential candidate's success at channeling the frustration and anger of the American people has to be taken seriously.
In a keynote dialogue at the 17th annual conference of the Investment Management Association of Singapore, the veteran emerging markets investor said to the extent that anger translates into more protectionist policies, the fallout could be considerable — and unfortunate — for “America and the world.”
However, one possible benefit would be if regions such as Southeast Asia “start thinking about alternatives” to relying so much on the U.S. market by breaking down barriers to trade and the movement of workers within the Association of Southeast Asian Nations, Mr. Mobius said.
