K\u00fcresel d\u00fczeydeki likidite bollu\u011fu ve buna ba\u011fl\u0131 olarak risk alma iste\u011finde ya\u015fanan spek\u00fclatif art\u0131\u015f en \u00e7ok geli\u015fmekte olan ekonomileri etkiledi; yerel paralar de\u011ferlendi, faizler h\u0131zla geriledi, krediler bolla\u015ft\u0131, menkul ve gayrimenkul \u015feklindeki varl\u0131k de\u011ferleri y\u00fckseldi. \u00d6zetle s\u00f6ylemek gerekirse finansal kesimin ayaklar\u0131 yerden kesilir iken, reel kesim varl\u0131\u011f\u0131n\u0131 korumakta zorland\u0131, b\u00fcy\u00fcmeden al\u0131nan paylar farkl\u0131la\u015ft\u0131 ve e\u011filimler ayr\u0131\u015ft\u0131, makro ekonomik verilerin ger\u00e7ek durumu yans\u0131tma kalitesi geriledi. May\u0131s ay\u0131n\u0131n son haftalar\u0131ndan itibaren ise her \u015fey tam aksi y\u00f6nde de\u011fi\u015fmeye ba\u015flad\u0131, geli\u015fmekte olan ekonomiler a\u00e7\u0131s\u0131ndan olumlu g\u00f6r\u00fcn\u00fcm\u00fc korumak nerede ise imk\u00e2ns\u0131zla\u015ft\u0131. Eski g\u00fczel g\u00fcnlerde olumlu g\u00f6r\u00fcn\u00fcm\u00fc kendi sayelerinde olu\u015fan ba\u015far\u0131 gibi g\u00f6stermeye \u00e7al\u0131\u015fanlar, \u015fimdi ya ka\u00e7\u0131\u015fmaya ya da ba\u015far\u0131s\u0131zl\u0131\u011f\u0131 fatura edecek sorumlu veya kusurlu aramaya ba\u015flayacak gibi g\u00f6r\u00fcn\u00fcyor\u2026<\/p>