Economics
Emerging Markets Are Still the Future
Some 3 billion people will enter the middle class by 2050, almost all of them in the developing world
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Remember when emerging economies were supposed to save us all? After the 2008 financial crisis, the traditional engines of global growth—the U.S., Western Europe, and Japan—stumbled into recession. To the rescue came the once-poor developing world. China, India, Brazil, and other up-and-comers powered the global economy through the historic downturn. The meek were inheriting the earth.
Not completely, as it turns out.