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Opinion
Marcus Ashworth

This Emerging Market Selloff Looks Contagious

Argentina’s emergency rate hike has become a problem for Turkey, and others. 

An IMF bailout isn’t doing the trick this time.

An IMF bailout isn’t doing the trick this time.

Photographer: Diego Giudice/Bloomberg

The difficulties for emerging markets have entered a new phase.

What were once clearly country-specific crises, well contained within their borders, are bleeding across the world.