Beyond the Emerging Middle Class

For many years, the rise of the middle class in emerging markets has captivated the imagination of investors. We think this is an illusion. It’s the working classes who will be the real engines of consumer growth in developing countries.

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The Path to Becoming an Emerging Market

By Henry D’Auria (pictured) and Morgan Harting Why have some equity markets in the developing world flourished more than others? It’s a pivotal question for investors hoping to stake an early claim to the potential emerging-market (EM) success stories of the next decade. 

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