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A Scared World Is Taking Its Money and Running Back Home—and to the U.S.

The end of the emerging market growth miracle.
Run, markets, run.

Run, markets, run.

Photographer: Nelson Ching/Bloomberg News

A tide of money went out to emerging markets for more than a decade, pushed by accommodative monetary policy in the U.S. and pulled by the promise of robust growth.

Now that tide is coming back in as investors seek to repatriate funds or flock to U.S.-dollar denominated assets as a safe haven amid sluggish economic growth and global market turmoil.