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The China story is going to continue. The conditions on the ground for this government-sponsored rally are still there and there's no reason to think anything's going to change now, but there's still a question over when the U.S. Federal Reserve will raise rates ... There's a risk the markets are underestimating the Fed's resolve. If the dollar gets traction again, that's when you're going to see this enthusiasm for emerging markets start to wane.

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