In Steven Spielberg’s classic movie “Back To The Future,” hero Marty McFly returns home after a journey back in time to find his once middling family has become successful and wealthy.
Emerging-markets investors are now watching on as the oddly familiar reappears in changed surroundings. Argentina has once again gone cap in hand to the International Monetary Fund, 17 years after its last debt crisis sparked a long period of isolation. Across the globe, 92-year-old Mahathir Mohamad—Malaysia’s nationalist leader for more than...