Emerging markets facing perfect storm, says IIF
They have been broad-sided by China's weakened imports, even as investors pivot towards the US
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Tokyo
EMERGING markets appear to have run into a "perfect storm" in recent months, with China at the centre of it, the Washington-based Institute of International Finance (IIF) said on Wednesday.
In a report detailing the shocks that have hit both equity and bond markets, it suggested that China's trading partners have yet to feel the full impact of recent events in the world's second largest economy; it also expressed doubt over China's commitment to a "fully market-driven economy", in light of the official measures Beijing took to stem the Chinese stock market slump.
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