Already, despite its massive oil production of roughly 2 million bpd, Venezuela imports increasingly large amounts of gasoline to compensate for a deteriorating refining system.

FORBES: Deadly Venezuela Refinery Blast Likely To Increase Demand For U.S. Gasoline

In Washington, the alarm about the deteriorating economy and the crisis in the financial system is rising.

FORBES: Magazine Article

Strong fundamentals along with ample liquidity, which will remain in the system even after the end of QE2, and a lagging, even deteriorating economic outlook for developed nations, will provide support for EM investments in the short-term, according to HSBC.

FORBES: Emerging Market Debt And 'Secular Growth' Equity-Trends Attract Capital Flows