FOR anyone with memories of the economic crises of the past 25 years, recent talk of emerging markets as the new safe havens of the financial world might seem, at best, a little fanciful.

• 任何一个人，只要他对过去25年间的经济危机仍然记忆犹新，那么对于最近有关新兴市场就是金融世界的新避难所的说法，他会认为有些异想天开了。