China supplants Fed as biggest risk for emerging markets

Concerns that the world’s second-biggest economy is slowing have hobbled the currencies and stocks of developing nations in recent weeks, erasing gains sparked by the United States Federal Reserve’s (Fed) assurance of a calibrated tapering of its stimulus measures.China has now emerged as their biggest risk. (File pic shows the Peoples Bank of China building)

DUBAI: Emerging-market investors are about to find out whether there’s more to worry about in China than just the Evergrande debt crisis.

Official and private gauges of Chinese manufacturing are due out Thursday, with expectations they’ll add to evidence of sputtering growth.

Concerns that the world’s second-biggest economy is slowing have hobbled the currencies and stocks of developing nations in recent weeks, erasing gains sparked by the United States Federal Reserve’s (Fed) assurance of a calibrated tapering of its stimulus measures.