(The views expressed in this column are the author’s own and do not represent those of Reuters)
(Any opinions expressed here are those of the author and not of Thomson Reuters)
Ever since reports emerged that the United States might taper off its bond-buying program, emerging markets have whipsawed: falling currencies, rising rates and fleeing funds. India and Indonesia have been two of the most affected countries in Asia.
from Davos Notebook:
In its video presentation "Looking to 2060: A Global Vision of Long-term Growth," the Organization for Economic Cooperation and Development predicts that China will soon surpass the United States to become the world's largest economy, and will account for 28 percent of global gross domestic product by 2030. The OECD also predicts that by 2060 the combined GDP of China and India will overtake that of the OECD economies. Meanwhile, Bain estimates that by 2020 emerging economies will account for two-thirds of global economic growth.