Where are the Emerging Markets 10 years on from the Financial Crisis?
Africa | Economy
In this, Oxford Business Group’s inaugural podcast, our Editor-in-Chief and regional editors assess the lie of the world’s economic landscape 10 years after the global economic crisis. From the continued rise of the Chinese economy and the commodities price cycle, to the political jolts resulting from Donald Trump’s election last year, our editors look at what it all means for the developing economies.
In many cases the picture is far from rosy; the emerging markets have been hit particularly hard by the slowdown in the commodities cycle and more broadly by moderating global growth and a challenging geopolitical environment.
This has lead to the slew of investors attracted into high-growth African markets in the wake of the crash subsiding, and the continent’s two biggest markets going into recession in the last two years. The knock-on is also apparent in the Gulf economies, where lower oil prices have lead to significant economic and social reform.
But despite these challenges, our editors conclude that it is still these emerging and frontier markets that are set to drive global growth. The centre of the world’s economic gravity has continued to track steadily eastwards, as countries across Latin America, Africa and the Middle East re-orientate their trading patterns and FDI outflows towards the expanding middle-class populations of markets like Indonesia, the Philippines and Vietnam, not to mention China.
Our editors discuss the future of globalisation and the ability of the emerging market trading blocs to successfully integrate themselves into each other’s economies in the years ahead.