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With economic nationalism on the rise globally, highlighted by the election of Donald Trump as US president, the future of the global trade regime is increasingly in doubt. BMI's country risk and industry sector teams have assessed the potential risks and opportunities for corporates and investors in this new reality for world trade. In many ways

The Bank of Zambia will continue to cut its key policy rate over 2017, after having reduced rates for the first time in five years in February. Inflation will remain in single digits over the year, and this will enable the central bank to take a more dovish monetary policy stance.

We expect the Bank of Zambia (BoZ) will enter a gradual rate

Although we do not anticipate US military action against North Korea in the near term, the possibility will grow as Pyongyang comes closer to achieving the ability to deliver a nuclear strike on the continental United States. In this scenario, we consider the implications of the US attacking North Korea.

North Korea continues to make progress in

Fiscal consolidation in South Africa will continue to be stymied by sluggish economic growth and political pressure to overspend in the coming years. While the deficit is likely to narrow in the upcoming budget cycle, it will not hit the government's targets.

Fiscal consolidation will continue in South Africa in the years ahead, albeit at a more

Bristol-Myers Squibb's Q117 financial results highlight the importance of the company's core revenue generators, namely Opdivo and Eliquis, in maintaining a robust growth outlook. Impressive revenue gains within the company's immuno-oncology and cardiovascular portfolios will bode well for Bristol-Myers Squibb's outlook for the remainder of 2017

Chinese homebuilders diversifying outside China are naturally seeking opportunities in neighbouring Hong Kong, where they can access good-quality sites and match their US dollar debt to cash flows in Hong Kong dollars, which is pegged to the US currency, Fitch Ratings says. Medium-sized Chinese homebuilders view the high-quality land in Hong Kong

Indonesia's proposal to introduce taxes to clamp down on speculative land purchases and cool land-price increases is a potential threat to developers, many of which own large plots of land, says Fitch Ratings. Although more recently, the government has indicated developers may not be targeted. 

The government says speculative land purchases have

US-Japan security ties will remain robust under President Donald Trump, as both countries focus on co-operation to counter-balance a rising China and increasingly nuclearised North Korea. Washington and Tokyo will still disagree over trade issues, but these disputes will largely be segregated from military ties.

The US-Japan security alliance will

The pharmaceutical and healthcare markets of North Africa will continue to present sizeable commercial opportunities within MENA for international drugmakers. While discrepancies exist at the national level with regard to market attractiveness, when taken as a whole, the region's close proximity to both European and African markets and its

Asian power markets outperform the global risk/reward index, as strong opportunities are balanced against relatively lower risks. Within the region, we highlight Malaysia and Australia as notable investment bright spots. Whereas, smaller power markets which continue to suffer from high operational and industry-specific risks, such as Laos, Cambodia