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Acknowledgements | |
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An Introduction to Emerging Markets | |
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Introduction | |
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What are Emerging Markets? | |
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A Brief History of Emerging Markets | |
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A Tale of Two Decades | |
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Decoupling and Globalization | |
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After the Storm | |
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So Far, So Good | |
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Interaction Between Emerging Markets | |
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The Ethical Dimension | |
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Conclusion | |
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The Investment Case for Emerging Markets - A Balanced View | |
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Introduction | |
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Why Invest in Emerging Markets? | |
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Capturing the Opportunity | |
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Demographics and Consumption | |
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Infrastructure | |
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Financial Services | |
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Valuations, Earnings and Return on Equity | |
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Some Technical Considerations | |
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Risk | |
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Matters of Trust | |
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Corporate Governance | |
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Hell is Other People | |
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Building Emerging Markets into a Balanced Portfolio | |
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How to Invest | |
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Bonds | |
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Decisions, Decisions | |
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Conclusion | |
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New Schools of Thought - Hype or Reality? | |
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Introduction | |
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Argument 1: Decoupling | |
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Argument 2: The Commodities Supercycle | |
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Argument 3: Sovereign Wealth Funds Will Take Over the World | |
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Argument 4: The East is in the Ascendancy While the West is in Decline | |
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Argument 5: The Success of Emerging Markets is Assured | |
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Argument 6: Emerging Markets are Far Higher Risk than Developed Economies | |
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Conclusion | |
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The "BRIC" Economies | |
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Introduction | |
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Overview | |
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China | |
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A Brief Economic History | |
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The Investment Case for China | |
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Industrialization and Infrastructure | |
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Country-specific Risks | |
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China's Stock Market | |
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Conclusion | |
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India | |
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A Brief Economic History | |
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The Investment Case for India | |
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Infrastructure and Outsourcing | |
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Country-specific Risks | |
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India's Stock Market | |
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Conclusion | |
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Russia | |
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A Brief Economic History | |
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The Investment Case for Russia | |
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Consumer Demand | |
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Country-specific Risks | |
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Russia's Stock Market | |
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Conclusion | |
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Brazil | |
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A Brief Economic History | |
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The Investment Case for Brazil | |
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Post-hyperinflation | |
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Consumer Demand | |
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Country-specific Risks | |
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Brazil's Stock Market | |
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Conclusion | |
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The "Emerged" Emerging Markets | |
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Introduction | |
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Overview | |
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Hong Kong - a Brief Economic History | |
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The Investment Case for Hong Kong | |
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Singapore - a Brief Economic History | |
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The Investment Case for Singapore | |
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South Korea - a Brief Economic History | |
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The Investment Case for South Korea | |
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Taiwan | |
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Investing in the Region | |
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Conclusion | |
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The Rest of Asia | |
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Introduction | |
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Overview | |
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Indonesia | |
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Malaysia | |
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The Philippines | |
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Thailand | |
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Vietnam | |
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Investing in the region | |
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Conclusion | |
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The Rest of Emerging Europe | |
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Introduction | |
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Overview | |
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A Brief History of Emerging Europe | |
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Region-specific Risks | |
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The Investment Case for Poland | |
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The Czech Republic and Hungary | |
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The Baltic States | |
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The Balkans | |
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Investing in the Region | |
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Conclusion | |
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The Rest of Latin America | |
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Introduction | |
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Overview | |
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A Brief Economic History of the Region | |
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Mexico - a Brief Economic History | |
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The Investment Case for Mexico | |
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Argentina - a Brief Economic History | |
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The Investment Case for Argentina | |
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Chile - a Brief Economic History | |
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The Investment Case for Chile | |
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Peru and Colombia | |
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Investing in the Region | |
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Conclusion | |
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Emerging Markets - The Final Frontiers | |
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Introduction | |
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Overview | |
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The Middle East | |
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Africa | |
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Investing in Frontier Markets | |
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Conclusion | |
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2020 Vision - The New Economic Order? | |
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Index | |