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Paying the price for emerging market bonanza

Investors face what could turn out to be a lost decade of returns, with four or five more meagre years ahead

Published Thu, Aug 6, 2015 · 09:50 PM

New York

JUST 14 years ago, Wall Street fell in love with the BRICs, the tidy acronym for four major emerging economies that, to many, looked like sure winners. Today, after heady runs and abrupt reversals, most of the BRICs - in fact, most developing nations - look like big-time losers.

The history of emerging markets is a …