Forget the “Fragile Five.” These days, strategists at Morgan Stanley are worried about what could be called the “Troubled Ten.”
That’s how many nations they say are particularly at risk since China devalued the yuan. While the analysts haven’t used the term themselves, it’s as good a description as any for the currencies—from the Brazilian real to Peru’s sol and South Korea’s won—which have trading ties making them susceptible to a slowdown in the world’s second-biggest economy.
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