Fourthly, most of the emerging economies, with relatively strong current account balance sheets and deeper foreign exchange reserves, have the capability to intervene the market if things do go wrong.
Finally, in China's case, the market turbulence is rather a result of government policies designed to restructure the financial sector and root out possible systematic risks caused by the country's so-called "shadow banks."
Such policies, if carefully implemented, will help the world's second largest economy complete its much-needed economic restructuring and stand on a more sustainable path in the long run.
At the end of the day, the economic fundamentals in most of the emerging markets are still healthy, and risks could also be reduced by financial firewalls such as the foreign exchange reserves of the ASEAN and the BRICS countries.
This, together with wise policies, will probably help the emerging markets avoid another crisis in the years to come.
Childhood in an isolated sterile room
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