Jan Dehn, an economist at Ashmore Group in London, said there are at least four potential candidates to trigger a wider currency war.

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Alas, the genius money management teams from Standard Life, Ashmore Group, Schroders, Matthews, JPM and even the vampire squid can beat the market.

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The emerging markets asset class has sustained average annual growth rates of 16% over the past decade, points out Jan Dehn, an economist at Ashmore Group, a large emerging markets investment firm in London.

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The core economies have deep structural problems and the world economy is in a state of disequilibrium, says Jan Dehn, an economist at Ashmore Group in the U.K. Ashmore has its hands in emerging market debt.

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