Emerging Economies suffer more than the developed economies in an inflationary environment

Marc Faber : We have to distinguish, in a country like India and Vietnam where GDP per capita is, say, a US$1000 a year, food and energy are much more important components of personal disposable income than in countries like the US and Europe where it is just a relatively small portion. So, in an inflationary environment, especially for food, energy and commodities, emerging economies suffer for more than the developed economies. "