Investors interested in putting their money into China next year may want to look elsewhere for potential gains. It seems that 2009 will be a repeat of 2008, according to a story in today’s People’s Daily.

You’ve probably heard about China’s colossal $600-billion stimulus package intended to jump-start its economy. But chances are you didn’t hear about the new $40-billion initiative by China’s wireless carriers to modernize the national network…

While most companies are bracing themselves for difficult times in 2009, Yum! Brands Inc. (NYSE:YUM) is aggressively expanding its international operations. The fast food group has China at the core of its growth strategy for 2009. Mike Caggeso says this could make Yum! one of the most promising investment stories in the coming year.

The brutal market sell-off in emerging markets has led many to doubt their importance in the global economy. But Horacio Marquez says the ‘right’ countries in Latin America will thrive in the New Year. Top of the class is Brazil, but Horacio also sees good opportunities in Chile and Mexico.

While China may blame the rest of the world for its dramatic decline in exports, Beijing has no one else to blame but itself for the steep drop in dairy exports.

Two of the top emerging markets are grappling with food production and costs – resulting in higher prices in the months to come. The outlook for China and Brazil could portend higher grain prices, giving investors a chance to cash in on a potential rebound.

Almost everything we use in modern society contains large amounts of raw materials. And they can’t be mined fast enough to keep pace with demand, especially from emerging markets. Lundin Mining Corp. (NYSE:LMC) is a strong Canadian mining company, with no debt and world-class assets. And it is a steal at today’s beaten down prices.

While China made headlines with a historic interest rate cut this week, the World Bank weighed in with a gloomy prediction about China that received scant coverage. For emerging-market investors who missed the story, the World Bank’s assessment of China’s economic performance in 2009 could reshape their strategy for portfolio allocation.

Not too long ago it seemed that everybody loved China.  It was a panacea, a magic bullet, the answer to every question. How can the US avoid recession? China. Why are the stock markets racing higher? China. Why is oil over $140 a barrel? China. You may have noticed that all this cheerleading has gone very quiet, very quickly.

One of our most reliable indicators about emerging markets shows that investors may have a real slog ahead of them in the coming years. In the past, we’ve used cell-phone sales in growing economies as means of measuring the prospects for investments. Cell phones show how much disposable income is available, in addition to reflecting the entrepreneurial spirit that creates a healthy middle class.