"If the stakes were high then, they are higher now. Emerging markets are half the world economy, according to IMF data. The "power ratio" is no longer 1:2, it is 1:1. Those who fell in love with the BRICS and mini-BRICS in the boom were entirely right to claim that an economic revolution was taking place.
Read more about Emerging Market Rout Too Big: Fed Tells Asia, Latin America, Africa and Eastern Europe to Drop Dead; China Dumps Treasuries...
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