The world economy has been transformed in ways that mean the nature and consequences of emerging-market turmoil have changed. Sri Lanka has run out of foreign exchange, Argentina faces another default and many poor countries are in trouble meanwhile On July 27th the Fed is expected to raise rates by another three-quarters of a percentage point and Whenever america’s Federal Reserve raises interest rates, investors reflexively worry about a crisis in emerging markets. Which market changes do we expect in the near future and the effects on the global economy ?

