Interesting to me in that the hotspots seem to line my Core-Gap divide, meaning we're talking New Core an/or Seam States attracting the bulk of this money seeking higher returns.
Also note that recent or ongoing conflict isn't the big deterrent, so former Yugoslav republics and their neighbors do well, as do a number of states in the Middle East. Frontier integration comes with inevitable levels of social violence.
Gist of article:
Even as investors flee the sovereign debt of developed countries, they are pouring record amounts into the bonds of emerging-market economies.
To me, that's a huge advantage of today's globalization: money can seek a better alternative--when required--than the West.