Over the past decade, emerging markets have become the global economy’s main growth engine. According to HSBC, 19 of today’s emerging-market countries will be among the world’s 30 largest economies in 2050, and they will be more important than the current OECD countries.
Emerging markets have already captured 40% of world GDP and 37% of global foreign direct investment. And, while OECD countries continue to stagnate in 2011, emerging markets are growing strongly. China this year jumped ahead of Japan as the world’s second-largest economy, while India attracted a record $80 billion in FDI, double that of 2010. Brazil’s Petrobras, already one of the world’s largest petroleum companies, had a record-setting $67 billion IPO last year.