China’s economy is slowing, Brazilian and Turkish citizens are in revolt, and commodity prices have fallen sharply. It’s no wonder that investors have pulled millions out of emerging market funds in the past few months. Yet it’s unwise to paint these markets with a broad brush. They may be experiencing sporadic hiccups, but they still possess one of the most dynamic investment themes of the early 21st century:… Read More
China’s economy is slowing, Brazilian and Turkish citizens are in revolt, and commodity prices have fallen sharply. It’s no wonder that investors have pulled millions out of emerging market funds in the past few months. Yet it’s unwise to paint these markets with a broad brush. They may be experiencing sporadic hiccups, but they still possess one of the most dynamic investment themes of the early 21st century: rising middle classes that are fueling steady gains in consumer spending.#-ad_banner-# Let’s look at China as an example. The world’s second-largest economy had been witnessing double-digit gains in consumer spending, though the Chinese government just announced that the growth rate slowed to 6.5% in the second quarter of 2013. Developed economies in North America would love to generate that level of growth. Take Indonesia as another example. As I noted earlier this month, auto sales rose 17.8% in the first quarter of this… Read More