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The Rise and Fall of Emerging Markets

Looking back, the decade between 2000 and 2009 marked the glory years for emerging markets.

Investors were making a mint in the stock markets. Emerging giants India and China even hit economic growth rates above 10% per year.

Emerging markets as a whole were growing an average of 4.5% faster than rich countries. That was enough to push their share of gross domestic product (GDP) from just over a third to nearly half.

Throw those numbers into a spreadsheet, and you’d find that the pace of growth was enough for the average income per person to converge to U.S. levels read more…