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Expectations of Some Emerging Markets Have Become Inflated: Author

3:30 AM ET Tue, 1 May 2012

Ruchir Sharma, author of Breakout Nations: In Pursuit of the Next Economic Miracles, told CNBC, "Because of the trend of the last decade where every single emerging market did well, this myth got propagated that all these countries are bound to converge with the developed world, this was because of a flood of easy money across the world."