Emerging Markets Wield Investment Clout

There is a shift in economic power from the developed world towards emerging countries and it should bring benefits for all stakeholders

External Writer 7 August, 2014 | 11:52AM
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Morningstar's "Perspectives" series features investment insights from third-party contributors. Here, Dean Newman, head of Emerging Markets Equities at Invesco Perpetual, comments on a perceptible shift in economic power due to emerging markets’ growing share in global GDP.

Since the Bretton Woods agreement in 1944, the world’s economic order has been US-led, highlighted by Washington being the location for global institutions such as the International Monetary Fund (IMF) and the World Bank. However, times are changing and new rising economic powers are questioning the current status quo.

A couple of weeks ago the leaders of Brazil, Russia, India, China and South Africa met at a summit to agree on a new development bank and to create a currency contingency fund.

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