Jerome Booth, head of strategy at Ashmore Investment Management, which specialises in emerging market debt, said developing countries were probably least at risk in the case of a severe credit contraction.
"The risks are more than fully priced into emerging markets," said Mr Booth. "The prejudice has recently moved from 80 per cent to 70 per cent in terms of emerging market debt versus developed market debt." -------------------- Of course Mr. Booth here is only concerned with the risk of his investor clients - any crisis resulting in the flight of liquid capital to the safe havens of developed nations will likely leave emerging markets reeling! Jayson Funke Graduate School of Geography Clark University 950 Main Street Worcester, MA 01610
