Operating in Emerging Markets: A Guide to Management and Strategy in the New International Economy

Foreword

When the history of the late 20^th and early 21^st centuries is written by future generations, all the wars, terrorist incidents, and political upheavals will be reduced to a passing mention or a footnote. But one salient fact will be recorded—the emergence of 80 percent of the world’s population from poverty to a middle class status, from ignorance to enlightenment, and the transformation of their somnolent, regulated markets into economic dynamism.

It will be remembered as the great rebalancing. As recently as the year 2000, emerging countries, despite comprising over three-quarters of the world’s population, had only a 40 percent share of world GDP. A mere 10 years later, this share had grown to 49 percent, and is on its way to 60 percent ...