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  • OPINION

    Is an emerging-market crisis near?

    News, Satyajit Das, Published on 05/09/2018

    ยป Emerging-market stresses have been building since at least 2013. Investors may have forgotten the effect of the "taper tantrum" on the so-called Fragile Five -- Brazil, India, Indonesia, Turkey and South Africa -- a term coined by Morgan Stanley to describe their vulnerability to capital outflows. Monetary accommodation, lower current-account deficits and growth disguised the underlying challenges, attracting more capital to those markets.

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