emerging markets finance required, increase, emerging, represents

brain_wash_your

... As the market becomes more and more integrated with the global market, it begings to be valued from more a global perspective perspective. Its covariance with the global market increases, evidenced by the increase n its global beta, but its reisk is less than wen measured stand-alone.
----> so far all clear to me

Think in terms of measuring required returin using "variance" (CML) and using "beta" (SML). When variance represents total risk, systematic and unsystematic, the required return using teh CML is greater than the required return using the SML.

Could somebody kindly explain this to me? thank you. feeling confused with sml and cml.