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Date
2011-04-04Type
- Other Publication
ETH Bibliography
yes
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Abstract
The world has talked about emerging markets for years. Locomotives of global growth, hot beds of productivity and burgeoning human capital: that’s all spot on, but dare I say it, horribly passé. We need ‘new thinking’ on emerging markets, and the news flash is pretty simple: geo-economic power has shifted so far East that we shouldn’t be referring to China as an emerging market, but an geo-economic powerhouse. More importantly, such gains are translating into geopolitical muscle that emerging powers are flexing across the board. They will be flexed even further when capital accounts are made to pay. The US is only solvent so long as Beijing now says it is: Europe isn’t doing much better. We can pass the debt parcel around all we like, but in the longer term it’s clear where capital will come from (p.s. the Bundesbank is the wrong answer). Europe is in decline, America is hanging on for all it’s worth; the ‘rest’ will continue to rise. China will be at the helm. Show more
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publishedJournal / series
Europe's WorldPublisher
Europe's WorldOrganisational unit
03515 - Wenger, Andreas / Wenger, Andreas
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ETH Bibliography
yes
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