Emerging Markets’ Decade of Disruption
Emerging-market countries will not only claim the lion’s share of global growth in the coming decade; they will also increasingly be the source of disruptive and frugal innovation. By 2020, the geography of innovation, in addition to that of the wealth of nations, will have undergone a massive rebalancing process.
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Over the past decade, emerging markets have become the global economy’s main growth engine. According to HSBC, 19 of today’s emerging-market countries will be among the world’s 30 largest economies in 2050, and they will be more important than the current OECD countries.