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" ... That looks on tempests and is never shaken ... "
" ... Unfortunately, psychological contagion is not always rational. In the past, for instance, a collapse in the Mexican peso caused selling of the Argentinian peso, even though the two economies are largely unrelated. Now, financial stresses on Argentina, Brazil and Italy, which might be tempests in a teapot normally, risk causing a stampede from emerging markets (and Italy), while concerns about the Chinese financial system, though commonplace for a decade, are growing in part because of a lack of transparency. ... "