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These countries are most at risk from a U.S. rate hike
Most of the world expects the Federal Reserve to raise interest rates on Wednesday for the first time in nearly a decade. For some countries, it will hurt. A rise in U.S. rates will have an impact on the global economy but many emerging markets have particularly good reason to be worried. Their governments and companies borrowed heavily in dollars over the last decade, because rates were so low. And investors were happy to pour money into places like Turkey, Malaysia and Latin America in the hope of getting a better return. That flow has reversed in anticipation of a Fed rate hike -- about one trillion dollars was ... (full story)
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