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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 | |