Fates of ‘Fragile Five’ Diverge

The “fragile five” are going their separate ways.  Seven months after Morgan Stanley coined the term to describe five formerly fast-growing emerging markets seen at risk of an investor flight, their fates are diverging.  The comparison was apt for a while. Brazil, India, Indonesia, South Africa and Turkey all faced high inflation, weakening growth, and growing current-account deficits (essentially the combination a country’s trade balance and investment flows).
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