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Davos meeting hears warnings of new emerging-market debt crisis

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Mr Rubenstein says if the US dollar, which is already at 14-year highs versus the euro, continues to rise, this will squeeze countries that have borrowed in dollars, possibly forcing fresh debt bailouts.

Tokyo

A NEW emerging-market debt crisis similar to those that occurred in the 1990s could be brewing, a leading international hedge fund manager warned on Wednesday at the World Economic Forum in Davos, Switzerland as bankers and others voiced growing concerns over the US dollar's recent

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