As an investor in Chinese stocks, I'm constantly bombarded by predictions of the country's coming economic bust. When a scandal at poultry company Yuhe International (YUII) brutalized this stock, people emailed me, saying that all Chinese companies are cooking the books. When a China-based ETF pegged to the S&P 500 launched, I was told that it was a clear sign that investors there knew it was safer to invest here than in their own country. The list goes on and on.

Lately, the recent pullback in several high-profile Chinese stocks, as well as a pullback in the iShares FTSE/Xinhua China 25 Index (FXI) -- the major Hong Kong market index -- has been cited as more evidence for the country's pending economic hardship. While it is true that some stocks have sold off lately after big runs higher in 2009, FXI is only down 3.8% over the past three months. That's hardly a huge giveback. And besides, America itself would be in pretty dire straits if every market slide meant that its economy was doomed.

Tuesday's upbeat data point: the International Monetary Fund is now forecasting that the global economy will grow 3.9% in 2010, up from the earlier forecast of 3.1% growth in October 2009.

The global economy grew a scant 1.3% in 2009, equivalent to a global recession -- the world's first since the end of World War II. The IMF also expects the global economy to growth 4.3% in 2011.

What's more, the IMF also raised its 2010 GDP growth forecast for the United States to 2.7%, up from the earlier 2.6% estimate. The U.S. economy contracted 0.3% in 2009, using the IMF's methodology and data. Meanwhile, the developed world is expected to growth 2.1%, in 2010, after an -0.7% contraction in 2009.

China's economy is expected to grow 10.0% in 2010, leading a 6.0% emerging market rebound. The IMF sees India growing 7.7%; Russia, 3.6%; Brazil, 4.7%; Mexico, 4.0%.

Long a topic of discussion, insurers and reinsurers are beginning to enter the microinsurance space. Scor (SCOR) firm invested in LeapFrog Investments, the first microinsurance fund, last month, and last week, the Microinsurance Network was launched in an effort to raise awareness of the sector.

In a mature industry, microinsurance is seen as having considerable growth potential, especially given the large numbers of people around the world who live without any form of coverage. Microinsurance protection ranges from property catastrophe to life and health. A recent study by Lloyd's of London found that 135 million people, 5% of the world's low-income people, are using microinsurance products, but that the total market size could range from 1.5 billion to 3 billion.

Pharmaceutical company Eli Lilly & Co. (NYSE: LLY) is planning to cut 5,500 jobs over the next few years and reorganize into five business units. The company is looking to reduce costs and accelerate how long it takes new drugs to get to market, especially as its top performers see their patents expire. This translates to a workforce reduction of close to 14% – to 35,000. This measure doesn't include new positions in emerging markets with high potential and Japan.

The company hopes to cut as much as possible through attrition and retirements – and it would not indicate how many other positions would have to be cut.

Eli Lilly's goal is to slash its annual cost by $1 billion during this restructuring. The new business units will be: cancer, diabetes, established markets, emerging markets and Elanco, which is its animal health business. This is a change from the existing functional model, which separates U.S. and global marketing for each drug in the company's portfolio. Through the new structure, Lilly says, drug development and marketing will be tied more closely.

"Our latest pick combines two highly profitable asset classes, small caps and emerging markets," says Nicholas Vardy. In The Global Bull Market Alert, he an emerging markets ETF.

"The SPDR S&P Emerging Markets Small Cap ETF (NYSE: EWX) offers you access to small caps in emerging markets that otherwise would be off limits.

"While some of the larger emerging market stocks trade in the United States, these smaller players never will.

"In addition, it's well known that U.S. small caps tend to outperform large caps over the long run. Their small size makes them nimble and quicker to react to changing market conditions.

Under the radar: Some trends are obvious enough and visible to all investors. Others are more-subtle, but are just as potent, and these often slip under the radar. Case in point: the International Monetary Fund's most recent analysis of the global economy is a classic 'good news/bad news' development.

"When most people think of Africa, images of business and commerce don't usually spring to mind -- more like wildlife, safaris and famine," suggests Nathan Slaughter.

In The ETF Authority, he explains, "But those perceptions are beginning to change as these countries continue to industrialize. And at the vanguard of this transformation is South Africa." Here, he looks at the iShares MSCI South Africa ETF (NYSE: EZA).

Slaughter explains, "Once a backwater country shunned by most of the international community, South Africa has made great strides over the past decade and continues to evolve. Fifteen years ago the government began an aggressive overhaul of South Africa's economy.

Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable, global trend as a support. And with the aforementioned in mind, Kimberly-Clark Corporation (NYSE: KMB) is worth a review.

In general, analysts expect a sales decline of 4-6% for KMB in FY2009, including a negative foreign currency effect. Kimberly is being hurt by both the recession -- which has prompted widespread belt-tightening by consumers -- and by increased competition. The First Call FY2009/FY2010 EPS estimates for KMB are $4.16 to $4.64.

Just look at these numbers. The World Bank expects private capital flows to developing countries to fall almost three quarters to $363 billion dollars from $1,200 billion in 2007. It logically follows that if developing countries do have the capital they need, they cannot stimulate their own economies.

Some countries like Russia and China can draw on their foreign exchange reserves. Countries which do not have reserves will have to rely on private capital. The world Bank estimates that developing countries will be short up to $635 billion dollars.

Monsanto Company (NYSE: MON) is another one of those demonstrated business companies that was treated rudely by Wall Street in 2008. Pushed to highs over $130 during the commodities mania of 2008, the Street then proceeded to take shares to the mid-$60s. Rational? Hardly.

Hopefully, rationality will re-assert itself in the years ahead. In general, analysts see 6-9% revenue growth for FY2009, led by stable corn and soybean seeds sales.

Despite a 46% gain since adding iShares MSCI Brazil (NYSE: EWZ) to his portfolio, global expert Keith Fitz-Gerald still sees upside potential. Here's the latest from Money Map Reporter.

"History tells us that the best gains come to those who have the courage to buy undervalued companies in the face of extreme pessimism – and that sounds a lot like right now. So while we may not be at the very bottom, we are nonetheless pretty darn close.

Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable, global trend as a support. And with the aforementioned in mind, The Hershey Company (NYSE: HSY) is worth a review.

In general, analysts see only modest revenue growth for HSY for FY 2009. However, an improved supply chain should reduce costs, and also free-up more capital for strategic growth initiatives at home and abroad.

US Steel is another one of those infamous, history-making stocks that investors aren't likely to forget any time soon.

Amid the robust growth and euphoria of emerging market economies, United States Steel Corporation (NYSE: X) soared first past $100, then $150, then above $196 per share in the summer of 2008, only to come crashing down when the leveraging bubble burst and many momentum traders exited the market.

"We have been recommending iShares MSCI Brazil (ASE: EWZ) in our speculative portfolio," says mutual fund and ETF expert Mark Salzinger.

In The Investor's ETF Report, he adds, "But we now think Brazil's solid long-term economic fundamentals and the ETF's 'scompelling valuation and well-positioned companies offer exceptional return potential as a portion of some investors'core portfolios, too."

"Brazil's stock market was assailed on all sides in 2008, when EWZ declined by about 55%. Robust gains in the previous five years had priced Brazil's stocks dearly, and investors'decreased tolerance for any perceived risk saw them abandon emerging markets stocks in droves.