Seth has it backwards. Mexico isn't the ugly kid here; India is. Massive economic growth has led to -- get this -- concerns over "rising interest rates." And that's led to panic selling in Southeast Asian stock markets, including India. Check out this quote from Dipak Acharya, a fund manager with the local BOB Mutual Fund:

"Nobody wants to buy in this market. Everyone is trying to take home whatever profit they are left with."

Color me thrilled. Hysteria is unlikely to affect the earnings of local stalwarts such as Reliance Industries and Tata Steel. Instead, it offers an opportunity to buy well-diversified, capital-rich regional stock funds such as Fidelity Southeast Asia (FUND:FSEAX) on the super-cheap. That's as good as it gets.

India and Southeast Asia are taking on North America (non-U.S.) in this Investing World Cup match. Go back to the intro page to navigate your way to another part of this contest, and then vote for the region that you think should advance to the next round of the tournament.

Take your portfolio on a market-beating trip around the globe by picking up The Motley Fool's inaugural international stock report, Around the World in 80 Minutes. Or, subscribe to any of ourinvesting newslettersand get the report free. All you have to lose is the prospect of richer returns.

Fool contributor Tim Beyers has worked with many Indian firms over the years. He's been impressed every time. Tim didn't own shares in any of the companies mentioned in this story at the time of publication. You can find out what is in his portfolio by checking Tim's Fool profile .

This article represents the opinion of one Fool and should in no way be taken as the opinion of either The Motley Fool, Inc., or the company in question, or as representative of anyone or anything other than that specific Fool's thoughts. So before buying, do your homework and review The Motley Fool's superbly sportsmanlike disclosure policy.