, ▁Poland , ▁Sri ▁L anka ▁and ▁Niger ia . ▁ ▁F T ▁emer ging ▁mark ets ▁editor ▁Stefan ▁W ag st yl ▁wrote ▁that ▁emer ging ▁market ▁invest ors ▁are ▁b ull ish ▁by ▁definition , ▁otherwise ▁they ▁would ▁be ▁invest ing ▁elsewhere , ▁and ▁found ▁it ▁" ref res hing " ▁to ▁read ▁an ▁emer ging ▁mark ets ▁book ▁ ▁that ▁was ▁" mer c iful ly ▁light ▁on ▁blue ▁sky ▁predictions " ▁and ▁" that ▁has ▁little ▁tr uck ▁with ▁the ▁rel ent less ▁Br ic - led ▁rising ▁of ▁the ▁emer ging ▁world ." ▁ ▁United ▁States ▁ ▁Sh arma ▁emphas izes ▁in ▁Break out ▁Nations ▁that ▁success ▁has ▁to ▁be ▁defined ▁in ▁relative ▁terms . ▁As ▁the ▁global ▁economy ▁slow s , ▁money ▁and ▁satisfaction ▁will ▁flow ▁to ▁nations ▁that ▁grow ▁faster ▁than ▁pe ers , ▁even ▁if ▁their ▁own ▁growth ▁rate ▁is ▁slower ▁than ▁it ▁was ▁during ▁the ▁bo om ▁of ▁the ▁last ▁de cade . ▁Anal yst s ▁need ▁to ▁compare ▁nations ▁against ▁riv als ▁in ▁the ▁same ▁per ▁cap ita ▁income ▁class , ▁because ▁the ▁challeng es ▁of ▁growth ▁change ▁rapidly ▁as ▁a ▁nation ▁gets ▁rich er . ▁So ▁India ▁should ▁be ▁compared ▁to ▁riv als ▁in ▁the ▁class ▁of ▁emer ging ▁nations ▁with ▁average ▁per ▁cap ita ▁income ▁below ▁$ 2 5 0 0 , ▁Brazil ▁should ▁be ▁compared ▁to ▁those ▁with ▁per ▁cap ita ▁in comes ▁between ▁$ 1 0 , 0 0 0 ▁and ▁$ 1 5 , 0 0 0 ,