Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Jacob Pouncey
Cryptocurrency analyst, Saxo Bank
Summary: Cheap electricity and plentiful manufacturing capacity in many emerging markets means they are playing an increasingly important role in the cryptocurrency mining industry. China’s massive computing power makes it the undisputed leader of the sector, but other, smaller countries also have key roles.