Friday, August 23, 2013
Asian Financial Crisis Two ? India the epicentre
Eighty five billion US dollars a month are being pumped into the system, and fears of a winding back have seen billions in funds pulled out of emerging market economies.
The crisis extends beyond Asia and Brazil is struggling has emerging markets hit currency problems - Brazil has a five year currency low against US dollar.Brazil's central bank has announced a $60bn plan to prop up the value of the national currency.
However India is the epicentre of the Asian Crisis followed by Indonesia and signs are the crisis is deepening.
Posted by nickglais on 8/23/2013 12:26:00 PM