Why are EMs contagious

• India's rupee has fallen to an all-time low against the US dollar.

• The currency has already slipped by 10% this year against the USD, but ANZ says there could be more falls to come.

• It adds to lingering concerns about emerging market currencies, with investors on edge about possible contagion risk.

They are all connected because they intend to compete in the American consumer market for survival.