The world’s leading Emerging Markets are moving rapidly up the World Bank’s latest GDP rankings in PPP (purchase power parity) terms as well as the annual foreign direct investment confidence ranking.
The global green transformation will create a windfall for many Emerging Markets that are home to large deposits of essential raw materials needed for the revolutions, while others like oil producers will take a hit and see their growth slow.
Emerging markets will overtake the Western world in terms of the collective nominal size of their economies by 2050, with China and India as the second and third largest behind the US, according to Capital Economics’ long-term forecasts.
The great and good have assembled in UAE’s capital of Dubai for the COP28 conference to hash out a plan to avert the looming environmental disaster, but its probably too late.
Inflation rates are coming down across the Emerging Markets and are now entering a second phase, Capital Economics said in a note on November 28. Central Banks are getting ready to cut interest rates but rate cuts will come slowly.