The Still-Emerging Markets
Emerging economies today are much more than a collection of new consumer markets and plentiful (and increasingly skilled) labor. They are also home to thousands of new companies, many of which are quickly becoming large, global leaders in their fields.
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SAN FRANCISCO – Today’s turbulence in emerging-market equity markets has triggered a wave of obituaries for their growth miracles of recent decades. But confusing short-term wobbles with terminal decline is a gross misreading of what is happening. The wave of industrialization and urbanization that is boosting the incomes of millions of people in emerging economies has not run its course.