2010 could be another good year for emerging markets

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"Emerging markets are really the only place to be," UBS’s Jeffrey Palma told Money Week on 8 January. In 2009, the MSCI Emerging Markets Index hiked by 75%, as emerging markets including Indonesia and China fared relatively well than the developed world.Over the next five years, the Indonesian economy may grow by an average of 6.6% every year and reach 7% by the end of 2014, according to the President Susilo Bambang Yudhoyono. In China, the economy grew 8.5% during 2009 amid the global downturn, according to Zhang Xiaoqiang, vice chairman of China’s top economic planning agency.The news followed Nestle, the world’s largest food company, saying that it is seeking acquisitions in emerging markets.