Diverging Markets
There's lots of divergence. And that's good.
This article is for subscribers only.
Everyone has grown accustomed to thinking about emerging markets as a monolith -- a collection of undifferentiated countries aspiring to the big leagues, with all of the heft and stability of more developed economies.
Emerging markets share similar traits, oftentimes the market prices them similarly, and so they all get wrapped into the familiar and popular one-size-fits-all basket called THE EMERGING MARKET FUND.