Emerging market nations, terrified of capital flight, dare not reflate their economies; on the contrary, we find the front-line economy of the moment, Brazil, compelled by fear of speculators to act in a precisely anti-Keynesian  increasing interest rates, raising taxes, and cutting spending even as the economy slides into a nasty recession.
Capital flight is a fear that's shared by emerging market nations.
Emerging market nations have absolutely nothing to fear from capital flight.