Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited.

Do developed country equities have a higher return than emerging market equities, when measured in the latter currency?
What you were told isn't an absolute truth, so trying to counter something fundamentally flawed won't get you anywhere.  For example: chinese midcap equities are up 20% this year, even from their high of 100%. While the BSE Sensex in India is down several percentage points on the year. Your portfolio would have lost money this year taking advice from your peers. The fluctuation in the rupees and remnibi would not have changed this fact. What you are asking is a pretty common area of research, as in several people will write their dissertation on the exact same topic every year, and you should be able to find various analysis and theories on the subject. But the macroeconomic landscape changes, a lot.