Emerging markets have undergone a great deal of turbulence in the last year or so. But the volatility isn't expected to scare off the multinationals operating in those countries, given their growing importance in the global economy.

The recent hard times started with the collapse in the prices of crude oil and other commodities, a painful development for the many emerging markets that depend heavily on extractive industries.

Another problem has been the anticipation that the Federal Reserve would start raising interest rates for the first time in a decade. The very low interest rates, not only in the United States but also in Europe and Japan, resulted in a flood of capital flowing into emerging markets as investors sought a better return on their cash. The fear is that Fed tightening will cause much of that money to flee the developing world.