The emerging market crisis follows a very familiar pattern. In times of high liquidity cycle (while the Fed is easing), the money supply is abundant and reaches far-away shores to seduce the usual EM suspects to go for an overdrive on consumption-driven growth with borrowed capital.
Global Markets | European shares fall again as Mideast war drags on
European shares extended their decline on Tuesday, mirroring a global equity selloff as investors grappled with the prospect of a prolonged Middle East conflict. A