India Warns That U.S. Economic Slowdown Could Hit Emerging Markets Hard

A slowdown in the U.S. may trigger a worldwide recession that if “disorderly” will hit emerging market economies hard, India’s finance minister warned May 4. Palaniappan Chidambaram, speaking at the 39th annual meeting of the Asian Development Bank (ADB), said global economic growth continued to depend heavily on the U.S. economy.