Forget the emerging economies

They may still be "emerging economies" in some books, but that term is so yesterday. If you think the economies of the BRICs were something -- you haven't seen the half of it yet. The rest of the world is coming, and it's not a bad thing. The captains of the first world economies will need a hard reset in their thinking, as colonial thinking will no longer get them anywhere.

in reference to:

"The United Nations World Investment Report calculates that there are now around 21,500 multinationals based in the emerging world. The best of these, such as India’s Bharat Forge in forging, China’s BYD in batteries and Brazil’s Embraer in jet aircraft, are as good as anybody in the world. The number of companies from Brazil, India, China or Russia on the Financial Times 500 list more than quadrupled in 2006-08, from 15 to 62."
- A special report on innovation in emerging markets: The world turned upside down | The Economist (view on Google Sidewiki)

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