Emerging markets are getting hell of a beating coz of pullouts & exposures to European sovereign debts. Most investors are more afraid of an Italian default than anything else coz they'll be no more money or enough to rescue them after Greece & Ireland. Though Markets are up yet Singapore stocks are now rated as expensive.
Yes the East is rising but its purely due to the West. If most US companies got sweeter incentives back home & pulled out of China, all those Industrial parks will crumble like dominoes, If the US fully utilizes & incentivises Silicon valley & their BPO industry do you see a strong India. All these Eastern countries normally anticipate US's & Europe's consumer & Job numbers coz basically those are their primary markets.
The truth is the West & East are joined on the hip with the West having the upper hand & remember the West will always let you grow as big as they want, remember Germany & the Soviet Union!
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary