James Donald of Lazard Asset Management highlights emerging markets as pivotal for investors, citing their undervaluation, strong corporate profits, and stable interest rates compared to developed economies. Lazard, with significant assets under management, particularly in the Asia-Pacific, sees these markets as promising due to high profitability and growth potential, despite global economic challenges. Donald is bullish on countries like Indonesia and India for their government-led economic initiatives and potential in natural resources and infrastructure. While acknowledging risks such as corporate governance, he notes improvements and the importance of selective investment. Emerging markets, especially in Asia and Latin America, are positioned for significant growth, offering attractive returns for global investors despite the need for careful risk management.