Thursday, June 6, 2013

Emerging Markets Displace Europe as Fulcrum of World Risk

Some feared this might happen in 1998 when Russia defaulted and East Asia’s currency crisis span out of control, a drama precipitated by a rising dollar. Contagion spread to western Europe, causing the pre-euro “convergence play” to snap back violently.

http://tinyurl.com/ksh8wz5

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