Global Enterprise and Emerging Markets
Located at Johns Hopkins University’s School of Advanced International Studies (SAIS), the Global Enterprise and Emerging Markets (GEEM) initiative is based in Washington DC and integrated with SAIS’s campuses in Nanjing, China and Bologna, Italy. GEEM provides a global focal point for dialogue on, and analysis of, the key elements that drive market dynamics, investment opportunities and risks, stakeholder policy debates, and political change as they affect the growth of international enterprise in, and development of, emerging markets.
Context
There is a growing consensus among market participants, policy-makers, and scholars that average real rates of GDP growth in emerging markets—customarily defined as most of the world’s developing countries—will likely outpace such rates in advanced countries by a multiple of 2 to 3--as they have for much of the past decade and a half. Indeed the exhibited pattern increasingly reflects a structural--not a cyclical--transformation of the world economy. Emerging markets have thus become prime venues for targeting high-growth opportunities by enterprises around the world, including businesses within emerging markets themselves.
The fundamental changes underway are occurring in numerous dimensions and at an unanticipated pace in many emerging markets, including the rise of a large, sophisticated consumer class; acceleration of investment and trade flows between emerging market businesses; growing demand for access to a wide array of infrastructure services; shifts in the global location of where inventions are being created; changes in the role of the state in the economy from an explicit to an implicit one; and rapid urbanization and demographic shifts.
Whether taken together or alone, these trends have potentially significant implications about the interrelationships among citizens, governments and businesses in both advanced countries and emerging markets, especially regarding the prospects for, and nature of, economic growth and social development within emerging markets.
Harry Broadman, FPI Senior Fellow, and GEEM Director, was interviewed by CCTV's Talk Africa program on Africa's Silk Road. Watch it here: