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What has gone wrong with the so-called 'emerging markets'?

They've slowed sharply; a sudden stop in Wall St's love affair with them may slow them even further

Emerging economies, most of all perhaps China, could not have been expected to go on producing heady growth rates for decades more, as many past extrapolations have suggested. A national economy is a much more complex thing than a simple "market" place.


IS there a difference between an "emerging market" and an emerging economy or developing country, and does it matter in any case? Yes, it does - it matters a whole lot - and only now are economists (though not yet the financial world, it seems) beginning to wake up to just why this