The devaluation of the Brazilian real has kept emerging markets at the top of bankers' and regulators' priority lists. As the crisis struck, the Malaysian second finance minister was on a tour of Europe designed to gather support for the country's controversial approach - an approach the minister insisted was working and would be continued indefinitely. More than a year on from the start of the crisis, there is still no consensus on what policies are appropriate for these troubled countries.
However, as Brian Caplen's story reveals, many of the assumptions on which policy ideas have been based are wrong. But revealing - with the benefit of hindsight - what actually went wrong, means...
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