But emerging markets do not deserve the doom-and-gloom treatment they are getting these days. The real lesson from the collapse of the emerging-market hype is the need to pay closer attention to growth fundamentals and to recognize the diversity of circumstances among a group of economies needlessly lumped together.
新兴市场并非无法避免今天所遭受的厄运。新兴市场经济停滞的真正教训是必须更多关注增长的基本面，并清醒地认识到被强行划归一类的不同经济体具有各自局面的多样性。