Apala Chavan, Douglas Gorney, Beena Prabhu, Sarit Arora
"At purchasing power parity exchange rates, the developing countries as a whole would, in recent years and according to growth projections for 2008 and 2009, account for about one-half of global GDP compared to about 37 percent in the early 1960s. It must be stressed, however, that this increase is entirely due to a set of middle- and lower-middle-income 'emerging' countries ." Kemal Dervis, administrator of the United Nations Development Program The rise of emerging markets has fundamentally altered the global marketplace. Actually, it has created a global marketplace, a vast, wired network of manufacturers, programmers, and designers who…
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