With Europe in the middle of a financial earthquake, there is nowhere to hide from the aftershocks.
As Agustín Carstens, Mexico’s central bank governor, told the FT on Tuesday: “We have reached a point where this is very important for all the global economy?.?.?.?We can’t say any longer that emerging markets are decoupled?.?.?.
Even very strong emerging markets will suffer if Europe isn’t stabilised very soon.”
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