Why is growth slowing in emerging countries?

We are interested in emerging countries other than China, having already looked at the causes behind China’s growth slowdown at length. In the recent period, g rowth in emerging countries other than China has slowed since the start of 2018. What may be causing this growth slowdown? At first sight, we can think of: The slowdown in global trade, the decline in global demand for industrial products and the slowdown in the Chinese economy; Capital outflows due to the appeal of the United States for investors, making i t harder for emerging countries to financ e their external deficits and leading to exchange rate depreciation and higher interest rates; Low commodity prices. It seems that the slowdown in growth in emerging countries excluding China has been due to the industrial slowdown since late 2018 and to capital outflows since spring 2018 .