Abbott's Take on Emerging Markets
"Every morning we get up, we see CNBC. Everybody brings their hands about China, but whether China is 7% growth or 6% growth, 6% is way bigger than the rest of the world. It's a fundamentally strong market for us as [are] practically all of these emerging markets. Now, the oil-based economy, the ones we were extremely dependent on oil, take Venezuela--okay, there are different stories. And the volatility, unreliability and sustainable market there is different than just about anywhere in the world . . . . . . As many of you know, market conditions in Venezuela have become more challenging including high inflation, increasing price and margin controls, regulations on import, and slowing demand. As a result, our forecast assumes a significantly lower contribution from Venezuela operation in 2016." Miles White, Abbott chairman and CEO, according to a Seeking Alpha transcript of the company's fourth quarter earnings call |
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