Emerging markets lead global economy
Research conducted by world bank HSBC has shown that emerging markets are most likely to lead the global economic recovery. The HSBC Emerging Markets Index (EMI) indicates a shift from West to East in economic growth.
“As the world’s economic centre of gravity shifts from West to East, the economic strength of emerging markets will play an increasingly central role in the development of financial markets and international relations,” confirmed Stephen Green, group chairman of HSBC.
And although the USA is still an important market for a lot of emerging economies, “its relative importance is declining,” said Stephen King, HSBC’s chief economist. “We now expect emerging nations to see economic growth of six percent next year while the developed world will expand by only 1.8 percent.”
EMI data comes from more than 5,000 purchasing managers from companies in 13 countries. For more information in the quarterly release, see: www.hsbc.com/emergingmarketsindex.