Emerging economies won't avoid credit crunch - IMF

Playing down talk of an economic 'de-coupling' having occured, the IMF's managing director, Dominique Strauss-Kahn, said the links between western economies and countries such as India remained strong and that a US slowdown would impact them too. And, while acknowledging that developing countries now traded amongst themselves to a greater extent than in the past, Strauss Kahn pointed out that much of the goods trade that occurred was ultimately tied to exports to the US or Europe. IMF statistics show that a 1pc slowdown in US growth has historically led to a 0.5-1pc decline in emerging...