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The ensuing collapse in the West’s financial credibility was equivalent to the Iraq War’s effect on its strategic credibility
Malaysia
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How much more “emerging” have the emerging markets left to do? Probably not much, given the vast amount of capital and hope invested in the asset class already.
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Imagine you are starring in the financial equivalent of the “Life On Mars” TV show. You wake up one morning to find you have time-travelled back to the early nineteen nineties. The Berlin Wall has just fallen. The triumph of capitalism is unleashing a tsunami of globalization as billions of people join the market economy as workers and consumers.