The country’s large population means it’s a great place to play the consumer theme.

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.

China is leading the recent economic deceleration in emerging markets. “I’m concerned about the next six-to-twelve months; I see some slowing [in China],” says Benjamin Tal, deputy chief of Economy Services.