An article in the September 28, 2009 issue of the London Financial Times caught our eye http://tiny.cc/lNKSn . The writer, Marko Dimitrijevic of Everest Capital was discussing the significant role that so-called "emerging markets" play in the world economy. He notes that emerging markets represent 30 percent of the world's stock market value and 50% of the world's economy. More telling was his calculation that for the period 2003 to 2009 while sales of the developed world grew at a growth rate of 5% annually, emerging markets grew at 11% annually.
Investors tend to look at the emerging markets as the volatile little brother to the more stable and much larger developed world big brother. Those roles may well be changing.