The term “EM-ification of the US economy” refers to trends in the U.S. economy that resemble those of emerging markets, such as rising sovereign debt, political instability, and inflationary pressures. Kevin McCarthy warned that if this continues, it could damage U.S. economic credibility and global financial leadership. https://www.gulfanalytica.com/key-insights-from-kevin-mccarthy-on-global-sovereign-debt-political-polarization-and-emerging-market-trends-at-aim-summit-dubai