Ian Bremmer, an acclaimed author, speaker and expert on global risk, discussed the “rise of the rest” in the New Statesmen, asking what emerging markets can tell us about the world today.
Ian describes how emerging markets have become a lifeline for the global economy, as they are expected to continue to emerge, providing much-needed global growth and leadership. However, Ian notes that “they are struggling through severe growing pains, and for many of them the pain outweighs the gain.”
“Not so long ago, Brazil and Turkey were considered best-in-class developing countries. Russia’s interventions in Ukraine have driven its economy into a tailspin, but Mexico, despite slowing growth, continues its march towards developed-world status. Finally, China’s uncertain future provides the world’s most important question mark.”
So why did these countries rise together, and why are they now heading in such different directions? Ian believes that “given that developing countries face vastly different challenges with vastly different capacities to respond, we must stop thinking of them as members of a single club.” He goes on to look closely at the stories of Brazil, Russia, India, Mexico, Turkey and China, to elucidate why some economies are faltering in “the rise of the rest.”
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