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Resilient China is firewall in emerging currency crisis

PARIS: China is the last bulwark against a deep crisis in emerging economies going fully global, analysts say, although a prolonged trade war could sap Beijing's defences. Emerging countries -- loosely defined as having fast growing but volatile economies -- have seen their currencies battered in recent weeks, plunging their finances into turmoil, and raising fears of global contagion. But China, the world's second-biggest economy and itself categorized as an emerging market, doesn't share a key downside of the…