Some of the world’s biggest emerging economies are pleading for the United States to end their drawn-out agony and raise interest rates now.
Already hit by a commodities crash sparked by the slowing of China’s once-booming economy, the mere prospect of the US Federal Reserve raising interest rates - perhaps as soon as Thursday - has battered the emerging giants that were once the world’s top performers.
Lured by the promise of bigger returns when the Federal Reserve eventually begins raising interest rates, investors are already moving their money to safer, yet profitable, US destinations.
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Already hit by a commodities crash sparked by the slowing of China’s once-booming economy, the mere prospect of the US Federal Reserve raising interest rates - perhaps as soon as Thursday - has battered the emerging giants that were once the world’s top performers.
Lured by the promise of bigger returns when the Federal Reserve eventually begins raising interest rates, investors are already moving their money to safer, yet profitable, US destinations.
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