Global: The effects of the US debt crisis on the developing world

An eleventh hour compromise saw the US move back from the brink of defaulting on its debt burden. One of the results of this for emerging market economies - Brazil, other strong performers in Latin America, much of Southeast Asia, and even the better performers in sub-Saharan Africa - might be that they will continue to experience a flood of capital seeking higher returns, hot money with all the attendant risks of a bubble.