One reason for global market weakness is investors’ fears that emerging market economies may be heading for a broad crisis, sparked by higher U.S. interest rates and slowing growth in China. Much of the analysis in the last few days has focused on why these nations are less exposed to a financial meltdown that in the Asian crisis of the late 1990s. A major reason is lower overall foreign debt exposures. But a number of countries do look fragile, especially those that remain reliant on foreign investors for funding or have failed to institute economic overhauls. Capital Economics, the London-based macro research ... (full story)