Why emerging market debt still has legs

In the closing stages of the 2011 Canadian Grand Prix, newly crowned Formula One world champion Sebastian Vettel was forced into a mistake in poor conditions, running wide while being pursued by a charging Jenson Button and handing him the victory. The incident sticks in my mind because much of the talk that season had been about whether the young German, who had walked away with his first world title the year before, really was an out-and-out racer who could retain the title or whether his skills were flattered by a much faster car designed by the legendary Adrian Newey. The latter s...