The Economist tells us that “the emerging market slowdown is not the beginning of a bust. But it is a tuning point for the world economy.” Growth, to cut to the chase, will be lower in China and across the emerging market realm. Some pundits look at this reasonable assumption and warn that it’s the beginning of the end; we’ve crossed the Rubicon as it relates to the global economy and international investing. Actually, there’s far less drama to this story. Narrative risk, as Barry Ritholtz explains, may be lurking. Indeed, if you’re looking at the evolution of emerging markets through the prism of certain media headlines of late, the end appears to be nigh, at least for this week.