Via The Financial Times, interesting analysis by Mark Mobius as to whether or not the US recession will hinder emerging market stocks.  As the article notes:

“…there is strong dissonance between what is happening in emerging markets and the frightening subprime news coming out of the US and UK markets

…Emerging markets this year are expected to experience an average gross domestic product growth of 7 per cent, while developed markets (the US, Japan, Europe, UK, Australia, and New Zealand) are expected to grow at an average of a little more than 2 per cent. Is it not possible that the emerging markets’ growth might tickle the economic giants of this world a little?

…Indeed, the most exciting aspect of emerging markets growth is the fact that the two most populated countries in the world are the fastest growing. More relevant is the fact that the growth in those countries is being led by domestic consumption growth. The Chinese and Indian consumers are the world’s new consumers and they along with consumers in Brazil, Russia, Turkey, the United Arab Emirates, Egypt, Mexico, Poland and many other emerging markets are becoming an important force in world consumption…”