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The Emerging Strength of Emerging Markets
The rise of emerging markets appears to be the defining economic theme of the current decade – much as information technology was in the 1990s and Japan’s manufacturing prowess was in the 1980s. Both of those stories, however, ultimately ended in speculative excess and painful corrections. Will the same thing happen in the BRIC (Brazil, Russia, India and China) countries? Or is the emerging markets boom still in its infancy? If the answer to the latter question is yes, will the developed world turn to protectionism in an attempt to preserve its dominant position in the global economy?

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