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financial contagion

   Also found in: Wikipedia 0.03 sec.
financial contagion
A financial problem that spreads among companies or regions. For example, Russia's 1998 default triggered sharp declines in the market values of debt issued by emerging countries.
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After initially resisting the currency pressure with capital controls, Thailand devalued and set the stage for a wave of financial contagion which engulfed all the east Asian currencies.
Cooling China: do international policymakers yet grasp all the global ... by Hale, David / The International Economy
That's how Alan Greenspan described the United States two years ago as a financial contagion oozed around the globe, infecting one country after another.
Struggling U.S. Economy is Taking Heavy Toll on Asia by PESEK JR., WILLIAM / Los Angeles Business Journal
The transnational financial contagion or so-called domino effect in Southeast Asia is unprecedented.
The Asian economic turmoil's impact on NR's future by Loyen, Gerard / Rubber World
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