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The Resurgence of the Rest
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The Resurgence of the Rest

Can Emerging Markets Find New Paths to Growth?

Ruchir Sharma
Foreign Affairs, 2021
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7

Qualities

  • Analytical
  • Overview
  • Background

Recommendation

Dazzling growth once made emerging markets the darlings of Wall Street. But reduced trade and capital flows after the 2008 global financial crisis, along with rapidly falling commodity prices and shrinking labor forces, combined to reduce growth in developing countries. The coronavirus pandemic only made things worse. Yet this cogent analysis by strategist Ruchir Sharma contends that economic reform, the digital boom and geopolitical developments could help some emerging economies to break out in the 2020s.

Take-Aways

  • Emerging markets’ once rapid growth appeared to augur a world of economic equality.
  • The dynamics that drove developing markets in the past may not exist in the future.
  • Post-pandemic factors will enable some emerging markets to achieve success in the 2020s.

About the Author

Ruchir Sharma is chief global strategist at Morgan Stanley Investment Management.

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