At the same time, second-home prices in emerging economies are slowing for the first time in years.
Mr Stiglitz, in contrast, depicted emerging economies as rowing boats on a wild and open sea.
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The OECD expects the current trends of faster growth in emerging economies to continue.
Brics stands for Brazil, Russia, India, China and South Africa - five key emerging economies.
However, a slowdown in emerging economies and unfavorable currency impacts resulted in 1% decline in 2012.
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The other light at the end of the tunnel may come from the emerging economies.
Emerging economies have gone further and faster than we have with mobile technology applications.
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Mr Eichengreen, for instance, wants emerging economies to discourage short-term capital inflows to minimise exchange-rate volatility.
In emerging economies, carriers figure that subscribers bring their eyeballs rather than their wallets.
This will hit emerging economies, which will struggle to service foreign currency debt liabilities.
The rise of China as other large emerging economies is re-drawing the global economic map.
For most emerging economies, however, intervention is more about coping with volatile capital flows.
Unlike oligarchs in emerging economies, Wall Street's financiers do not use overt bribery or blackmail.
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Those that embrace it can best share in the emerging economies' astonishing new wealth.
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Competition from emerging economies should also help to spur rich-world productivity growth and thus average incomes.
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In fact, almost 40 countries, including several large emerging economies, have submitted nothing at all.
"I don't see the emerging economies talking themselves into a recession, " says Mr Clarke.
That will be followed by meetings in South Africa with heads of other emerging economies.
In the past few years, the expansion of corporate-bond markets in emerging economies has been encouraging.
Economic growth in emerging economies has produced a critical mass of middle-class consumers with buying power.
But emerging economies have become increasingly unhappy with this arrangement and are pushing for change.
Avon gets about two-thirds of its sales from emerging economies, whereas Coty depends on rich ones.
Alongside stronger domestic demand in Europe and Japan, emerging economies are also tipped to remain robust.
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Emerging economies accounted for around three-quarters of global growth over the past 18 months.
Market access continues to dominate discussions, with emerging economies pushing for cuts in rich countries' protections.
Emerging economies compounded their misery by raising interest rates, rather than cutting them, once disaster struck.
Ms Moyo rightly complains at the exclusion of big emerging economies (except Russia) from the G8.
In 1990 growth remained relatively brisk in emerging economies, propping up exports from the rich world.
Compared with the mid-1990s, private capital flows to emerging economies have all but collapsed.
Trade in services still remains far too restricted, and not only in emerging economies.
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