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Emerging markets are wobbly but not in a bear territory, says Ruchir Sharma

Emerging markets are wobbling but are not in a bear territory, said Ruchir Sharma, chief global strategist of Morgan Stanley.
Ruchir was speaking exclusively to CNBC on his article in New York Times titled 'Millionaires are fleeing. Maybe you should, too'.
Speaking about emerging markets, Ruchir said that locals know better about bounce back or recession issues as compared to foreigners.