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Emerging Markets: New World Order

June 07, 2010

Emerging markets are driving the global economy while the U.S., Europe and Japan struggle.

By Tom Buerkle

Greece’s debt troubles have captured the world’s attention, and headlines, in recent months. Even after the country’s unprecedented bailout by the European Union and the International Monetary Fund, angry protests in Athens raise the question of whether Greeks will accept years of painful austerity rather than default on their obligations. The crisis has split Europe’s political leaders and prompted German politicians to lash out at speculators and impose curbs on short-selling. Suddenly, the future of the euro seems in doubt, and the fallout in financial markets risks tipping Western economies back into recession.

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