Emerging markets V/S Developed markets

The US economy has been growing at a turtle's pace. Japan has not been too far behind. Europe is almost flat with a few exceptions. China's stellar growth is expected to slow down. But Templeton's Mark Mobius feels that the global economic recovery is "well in place". According to him, the growth in the BRIC countries coupled with Turkey and South Africa will more than offset the slowdown in the developed world. While China has slowed down, but a growth of 10% is still not such a bad thing.
As per Mobius' peers too, it would be the emerging markets that would lead the economic recovery across the world. This is reflected in the performance of the markets as well given that the MSCI (Morgan Stanley Composite Index) for Emerging markets has outperformed the developed markets in recent times.