Money Wave Hitting Emerging Markets

AS WESTERN countries struggled out of the financial crisis in 2009, they hoped emerging economies in Asia and Latin America could be relied upon to prop up global growth. Instead, emerging countries now hang on what happens in the West. As central banks in Europe and America lowered interest rates and began quantitative easing, investors and banks sent a giant wave of money surging around the world, waiting for the Federal Reserve to raise rates again before it returned.