Since then, most emerging market currencies have rebounded sharply.

The higher interest rates rise to stabilize emerging markets currencies, the more severe their crises will be.

Moreover, some emerging market currencies are joining the club of international currencies for the first time.

Since then, emerging market currencies and fixed income securities (government and corporate bonds) have taken a hit.

Thus, for the dollar to depreciate further, it will have to depreciate against the currencies of China and other emerging markets.

Emerging markets currencies also collapsed, even in economies with huge foreign exchange reserves and relatively little debt.

South Korea, Brazil, and other emerging market countries are also attractive diversification investments, causing their currencies to appreciate.

The overall trade weighted value of the renminbi has thus declined significantly, particularly relative to the currencies of the emerging market countries with which Chinese producers compete.

The Future for Emerging Markets

Save the Emerging Markets

Emerging Market Resilience

The Emerging Market Currency Rout

Emerging Market Target Practice

Emerging Markets Europe Problem

Are Emerging Markets Submerging?

The End of the Emerging Market Party

The performance of emerging market currencies and other assets so far in the second quarter suggests that deleveraging has begun once again.

Emerging Markets and Global Financial Reform

Trouble in Emerging Market Paradise

The Emerging Market Growth Engine

Emerging Markets Feminine Future

SANTIAGO With the currencies of Malaysia, Indonesia, South Africa, Turkey, Brazil, Colombia, Chile, and Mexico hitting record lows recently, currency traders around the world are asking How much further can emerging market currencies weaken?

The Coming Emerging Market Debt Squeeze

Back to Fundamentals in Emerging Markets

Beban Utang Tersembunyi pada Negara negara Emerging Market

Will Fed Tightening Choke Emerging Markets?

Led by strong Chinese growth, emerging markets stabilized.

Similar lessons are relevant in emerging market economies.

But, while that implies that emerging market currencies must strengthen, disorderly appreciations would do more harm than good.

They've got so much sunk in it that it's very difficult for them to spot emerging new markets.

Emerging Markets After the Fed Hikes Rates

Can Emerging Markets Save the World Economy?

Emerging market countries face an additional problem.

Now consider other major emerging markets.

The emerging market economies are at risk as a result.

Additional issues were identified by some participants, including

Collapsing emerging market currencies, and the resulting trade pressures, will make it all the more difficult for them to prevent their unemployment levels from rising significantly.

These countries, in turn, could argue that even very poor US households are much better off than the average emerging market household.

The higher interest rates rise to stabilize emerging markets currencies, the more severe their crises will be. Ultimately, even if emerging economies manage to diversify their funding away from foreign currencies, they will remain hostages to US monetary policy cycles.

Likewise, India s public finances are stronger than they are in most emerging market countries, let alone emerging market countries in crisis.

Rather, it is emerging markets like China.

Indeed, the number of excellent emerging market candidates is remarkable.

Personally, I would urge emerging market countries to support Shanmugaratnam.

But it is far more likely that they will remain divided.

Finally, the G 20 needs an emerging markets caucus.