It’s fashionable to say the era of strong emerging-market growth is over. As the U.S. recovers, the global cost of capital will rise, holding back investment; against this background, avoiding the next crisis is the best that most emerging economies can do. If you take this view, India might seem a perfect example, with its widening current account deficit, heavy public borrowing, persistent inflation and weak currency.
Russia called on Ukraine to halt all military preparations in the east “immediately” or risk civil war as the U.S. accused Russia of instigating unrest that echoes the run-up to its annexation of Crimea.
Ukrainian authorities sent security forces to Kharkiv to clear the country’s second-biggest city of separatists as Russia traded accusations with the U.S. and warned that its neighbor’s crackdown risks sparking civil war.
The U.S. has suspended non-lethal aid to opposition forces in northern Syria after members of a militant Islamist rebel group seized warehouses belonging to the Western-backed Supreme Military Council.