Asia, Latin America Emerging Markets

Manila Bulletin, October 9, 2011 | Go to article overview

Asia, Latin America Emerging Markets


"Some 70 emerging market countries in East and South Asia, Eurasia, Latin America, and Africa that share prospects of superior economic performance or seek to create a conducive business environment are of interest to investors." - Emerging Markets Forum, Washington, D.C. MANILA, Philippines - As discussed in several columns since April, 2011, based on FVR's active participation in several regional/global gatherings, the economies of the Philippines, Indonesia, Vietnam, Kazakhstan, Chile, and Mexico, among others, have been identified by multilateral analysts as capable of reaching higher per capita growth on a sustainable development trajectory within the next generation.The BRICSThis listing does not include the top 5 emerging economies already tagged as the "BRICS" (Brazil-Russia-India-China-South Africa) by Beijing last April during its special summit in Sanya, Hainan, during which Presidents/PMs Dilma Rouseff, Dmitry Medvedev, Manmohan Singh, and Jacob Zuma were singled out by China's Hu Jintao for their economic sustainability.Beijing's focus on BRICS and emerging BRICS -- a more advanced multilateral framework for economic synergy than the US initiative for the "Trans-Pacific Partnership" caused some grumblings of dissatisfaction about South Africa's inclusion -- especially because of unresolved racial inequities, small population base, pollutive mining, and failure (as leader of the African Union) to successfully mediate Libya's civil war to end killing of innocent civilians.The likes of Turkey, Chile, Argentina, and Indonesia had consistently been branded to reach the top rank of emerging markets because of their natural resources, policy regime, geographic connectivities, stable security condition, and productive labor pool.Among ASEAN countries, the Philippines, Malaysia, and Thailand are rated as potential "tiger cubs" attractive to foreign investors.EMF criteriaThe EMF Global gathering in Warrenton, Virginia, last 25-27 September was attended by 110 leaders and experts, including former IMF, World Bank, and Inter-American Development Bank executives, plus incumbents from the Asian Development Bank, Latin American Development Bank, and UNOutlined in last week's EMF confab are these critical reforms needed by countries aspiring for "emerging" (from "developing") status:(1) Strengthen governance and democratic institutions against organized crime, drug trafficking, and corruption.(2) Ensure stable, level, and transparent macroeconomic environments.(3) Improve competitiveness based on human development and provision of dependable finance, infrastructure, and energy systems.(4) Reduce costs/time for doing business with minimum bureaucratic red tape.(5) Implement inclusive policies that bridge disparities.(6) Consolidate positions as competitive players in the regional/ global economy.These same criteria were prescribed in ADB's recent "Asia 2050: Realizing the Asian Century."The Mexican caseMexico today is an interesting case. In its latest study "Mexico 2042: Prosperity For All," EMF concludes that it is being surpassed by other emerging economies because it:(a) Remains in the "Middle-Income Trap."(b) Lags in innovation due to poor education quality.(c) Is high in income inequality, with shortcomings in human development.(d) Is over-dependent on the US, and must move out to engage other regions.Because of their erratic quality of leadership, boom-bust cycles, and lack of inclusiveness, many countries of great potential like Mexico and the Philippines, among others, have been caught in the "M.I. Trap" and have been unable to develop sustainably.To economic strategists, the "M.I. Trap" is a situation when a country is not able to compete with low-income, low-wage economies in manufacturing; and compete capably high-skill, innovative industries. Mexico's plan of actionTo raise its rate and sustainability of GDP growth, Mexico needs to move out of the "MI Trap" by emphasizing inclusiveness and equality -- says the EMF.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Asia, Latin America Emerging Markets
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.