There Will be a Wave of Emerging-Market Defaults, Says the Investor Who Seized One of Argentina’s Ships (MarketWatch)

• Jay Newman: “We are on the brink of an epidemic of emerging market defaults, the scale and scope of which will rival the debt crisis of the 1980s,” he wrote in an op-ed in the Financial Times. [Click here for a non paywalled article)
• “When Sri Lanka, predictably, found itself unable to satisfy the debt, China sprang the trap, insisting on repayment, offering to exchange debt for further concessions and vast tracts of land, and offering additional cash to help tide the political class over.” READ MORE

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