Citigroup's Emerging Markets Strategy

Geoffrey Davis of Citigroup Global Markets says the concern of Europe is now whether the global market will go into a double dip.Citi tends to think that will not be the case.What people worry about in the emerging markets is too much growth-but these are better concerns to have.
China is not Citi's favorite.Property prices may come down and interest rates may go up.Taiwan,South Korea and Russia are among their favorites.These are a good buying opportunity over the next 6-12 months.
Citi has downgraded their European outlook.The worst case scenario for a global double dip would be a big rise in U.S. unemployment or a major slowdown in China.That's what Citi would be looking for.In that case,you would go more into cash.Having already seen an 18% pullback in the emerging markets,however,Citi thinks investors should be looking another way,Mr.Davis noted.
China has indeed begun reigning in bank lending and real estate prices,fearing an overheated economy.The latest report shows a big jump in exports from China.