A bottling plant in Kenya. Ernst and Young estimates that globally, three billion people will enter the middle class by 2030, mostly in emerging markets, causing this huge population segment to dominate consumption.
PHOTO: REUTERS
INVESTORS who have been dismayed by the underperformance of emerging market (EM) equities relative to developed markets over recent years should consider whether EM equities' recent rebound in relative terms is structurally sound or just a case of temporary mean reversion.
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