(Bloomberg) -- Could a breakout for U.S. rates mean a breakdown for emerging markets? Maybe, according to Bloomberg Economics. Harvard professor Carmen Reinhart hit the headlines this week, arguing that higher external debt and more fragile politics -- among other factors -- made emerging markets more vulnerable today than in 2013 or on the eve of the global financial crisis in 2008. A look at 18 major emerging-market economies shows Turkey, Argentina and Peru standing out with the worst combination of weak governance and high external financing needs, with Brazil and Indonesia not far behind.
To contact the reporters on this story: Tom Orlik (Economist) in Beijing at torlik4@bloomberg.net;Justin Jimenez (Associate) in Hong Kong at jjimenez68@bloomberg.net
To contact the editors responsible for this story: Sheldon Reback at sreback@bloomberg.net, Zoe Schneeweiss
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