English to Spanish Bus/Financial Finance (general)

Thanks to these improved fundamentals, emerging markets have been more resistant to external shocks; we have seen a decline in contagion risk (the likelihood of the collapse of a financial system). In the past, the asset class had been subject to periodic crises, such as those in Mexico in 1994 and in Russia a few years later. In each crisis, problems that were originally located in a country or region ***rippled across*** the asset class.

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