The document discusses emerging markets and their economic growth prospects. It makes three key points: 1) Emerging markets like China, India, and Brazil will become increasingly important to the global economy, doubling their share of world output by 2020. However, they currently face challenges from Europe's economic crisis. 2) China has taken steps to stimulate its economy through interest rate cuts and increased infrastructure spending after facing slower growth due to European recession and a tight monetary policy in 2011. 3) While emerging markets will not return to double-digit growth rates, China is expected to meet its 7.5% growth target for the year, providing relief to depressed stock prices and helping other emerging economies that rely on China.