Better pre-MBA exp: developing nation IBD or US biz dev?

The title pretty much says it all.

If you were hiring a post-MBA associate, (and taking for granted for now that the candidate comes from a US target school and has a 750+ GMAT) which would you prefer:

--investment banking analyst experience for a big local bank in a no-name developing country, or;

--business development experience for a well-respected midmarket US firm?

Assume US citizenship and a business degree from a Top 20 US college.

(Any chance of swinging the former into an emerging markets gig?)

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