Emerging market investors should look to independent economies.

There’s no doubt China is growing more slowly, but it’s still expanding at a healthy rate of 7%-to-8%, says Stephen Burrows.

Russia had a public debt-to-GDP ratio of 100% a decade ago. Today, it sits around 10%, one of the lowest of all emerging markets.

Economies driven by domestic demand and consumption are showing the most growth this year. These include the Philippines, Indonesia and Thailand.

Despite declining growth data from China, emerging markets remain attractive to investors, seeing an upward swing of 25% in dollar terms since last October.