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Karabell: Developing Countries Key to Curing Economic Woes

Indian stockbrokers react as they monitor share prices during intraday trade at a brokerage firm in Mumbai on August 5, 2011. Indian shares plunged by nearly four percent to its lowest point in over a year, triggered by US economic worries and the European debt crisis which have spooked world markets. (Indranil Mukherjee/AFP/Getty Images)
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Asia Society Associate Fellow Zachary Karabell took stock of Thursday's market crash in The Daily Beast:

August 5th by Dan Washburn | Comments
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