Serious echoes of the Asian Financial Crisis of 97/98. A lot of Dollar denominated debt being issued outside of the United States with prospects that the Feder

Serious echoes of the Asian Financial Crisis of 97/98. A lot of Dollar denominated debt being issued outside of the United States with prospects that the Federal Reserve is going to raise rates. Although it's a little different, this time, as there are not as many Dollar pegs left in the world. That was one of the things in the late 90s version; countries that pegged local currency to the dollar effectively mimicked US monetary policy, so when the Fed started to raise rates around 1994, they also had to start raising rates, which meant higher debt servicing costs as it became more expensive to service US debt in local currency.