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.

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