Turkey crunch would pack only weak punch for emerging markets
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LONDON (Reuters) - Turkey could be heading for another financial crunch but its diminished importance for investors in developing economies and changes in the sector have greatly reduced the risk of contagion across emerging markets.The lira tumbling to fresh record lows last week reignited memories of Turkey's 2018 crisis which rocked developing currencies from South Africa's rand to Russia's rouble and also impacted shares in Turkish-exposed European banks.But even that reaction was muted..