Analysis: Fortune favours emerging markets – for now

China has spurred the recovery but could lead Asia into a five-year asset bubble

George Soros may have been overly fretful. The billionaire investor, who has made his fortune by betting on macroeconomic shifts, said in April that emerging markets had been endangered by policy actions in the west.

He urged the Group of 20 countries to wrap them in the cotton wool of greater International Monetary Fund aid.

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