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Are debt crises in Argentina and Turkey a global warning sign?

We should not be complacent about the risks a recession could pose to advanced economiesAre brewing exchange rate and debt crises in Argentina and Turkey localised events without broader implications? Or are they early warning signs of deeper fragilities in bloated global debt markets that are being exposed as the US Federal Reserve continues to normalise interest rates?Rising interest rates could test stability in some advanced economies as well, especially in Italy, where voters, particularly in the less developed south, have opted decisively for a disruptive populist government. With an...

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Published By: theguardian.com - 7 days ago