Davos meeting hears warnings of new emerging-market debt crisis

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 surge.

Anxiety over the recent sharp upsurge or "Trump trend" in the dollar was evident on Wednesday in Tokyo as nervous markets sold the US currency, especially against the yen, pushing the Japanese currency up sharply and causing Tokyo stocks to fall to a five-week low.