Four of the five BRICS are struggling. Brazil, Russia, China and South Africa economies are all having trouble, while only India is performing well.
Mohamed El-Erian agrees that China is slowing down considerably, but they have the tools to engineer a soft landing. He also believes the Fed will start raising interest rates this year as the U.S. is doing relatively poorly.
He still recommends his barbell strategy of holding things that quantitative easing haven't impacted valuations on.
