In a context of strong risk appetite and a generally favorable economic outlook, emerging economies have continued to attract substantial capital flows.
However, the materialization of the previously noted risks or others, such as more serious economic difficulties in China, would tighten external financial conditions for these economies and impact their asset prices, with more acute effects on those countries beset with more evident vulnerabilities. Naturally, the recent evolution of the Mexican economy has been heavily influenced by the peculiarities of the external environment.