Oliver's Insights: The rout in emerging markets – is it another Asian crisis?

The rout in emerging market currencies and assets is indicative of a turn in the long-term secular cycle away from them. While an Asian crisis re-run is unlikely, the rout could have further to go and the risks have risen. Countries with current account deficits such as Brazil, India and Indonesia are particularly vulnerable. Surplus countries like Korea and China are better placed.For investors this means being cautious regarding emerging market assets for now. It also adds to the vulnerability of the $A.
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