EMs are an excellent alterative to the developed world. Lower PEs, better growth (vs NO growth) makes these markets the only equity alternative. Ignore the Wall Street brokers, they have vested interest to scare folks capital away from areas of organic growth like EMs - they don't have to rely on exports anymore anyway.
yes - they can't hold it all down with their selling programs - soon EMs will get back on their historical track, ie before the CBs tried to kill them for their own survival. They have been down the last 2 years vs US and EUROZONE? Give me a break, you know something is going on.