Of course, not all emerging markets, according to this logic, are equally exposed. Among the most vulnerable countries are Turkey, South Africa, Brazil, India, and Indonesia – the so-called “Fragile Five” – all of which are characterized by twin fiscal and current-account deficits, high inflation, in addition to faltering GDP growth.
当然，根据这一逻辑，并非所有新兴市场都存在相同的风险。风险最高的国家是土耳其、南非、巴西、印度和印尼，即所谓的“脆弱五国”，它们都存在财政和经常项目双重赤字、高企的通胀以及萎靡不振的GDP增长。