The final frontier
The term 'emerging markets' was first coined by a World Bank economist in the 1980s, but the asset class is still in many ways a fuzzy and evolving one. Are Hong Kong and Singapore still emerging markets? Mexico and Korea are both members of the OECD, the rich countries' club, yet are considered emerging markets. The fact that countries are moving up is a natural progression, as emerging markets, by doing the right things, are expected to eventually become developed countries. At the other end
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