금리 인상 우려로 신흥국 시장 불안

That makes a lot of sense. So, are you mainly reducing exposure to EM countries with high debt-to-GDP ratios, or is it a more general pullback across all emerging markets for you right now?

That makes a lot of sense. So, are you mainly worried about the direct impact of higher US rates, or also the secondary effects like a stronger dollar making EM debt harder to service?

I'm with you on this. The carry trade unwind when developed markets raise rates always creates headwinds for EM, and the current inflation picture certainly points to that pressure building. Keeping an eye on commodity prices as well, as that often adds another layer of complexity for many EM economies.