The challenge facing today’s emerging market investors is to discern order — or at least pattern — among a great diversity of different countries, assets, risks and opportunities. Some attempts have been made to group countries that seem to share attributes, such as the Brics (Brazil, Russia, India and China). But any static grouping inevitably loses relevance over time. A more dynamic system is called for, but one that continues to find order even as EM growth trends ebb and flow.
當今新興市場投資者面臨的挑戰是，在眾多不同國家、資產、風險和機遇當中找出規律，或者至少是格局。此前已經有人將似乎具有共同特征的國家歸為一類，比如將巴西、俄羅斯、印度和中國稱為“金磚國家”(Bric)。但任何靜態分組都不可避免地會隨著時間推移而喪失相關性。需要有一種更為動態的體系，即便在新興市場增長趨勢起起伏伏之際也能繼續找到規律。
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