Investors who gorged themselves on Turkish delight and Argentine beef have had a rude awakening in 2018—the two countries are at the heart of a broadening crisis that has sent emerging-market currencies tumbling. In Asia, one name keeps coming up: Indonesia, which also has a growing trade deficit—and lots of foreign debt. On paper, Indonesia has done everything right to reassure markets this summer, from raising interest rates to cutting spending and lifting import taxes.

Source: Wall Street Journal September 11, 2018 06:11 UTC