In a candid moment, McCarthy discussed the "EM-ification" of the U.S.—referring to its increasing resemblance to emerging markets due to volatile politics, weakened institutions, and fiscal mismanagement. His warning was clear: even established democracies are vulnerable without structural reforms. https://www.gulfanalytica.com/key-insights-from-kevin-mccarthy-on-global-sovereign-debt-political-polarization-and-emerging-market-trends-at-aim-summit-dubai