Business in Emerging Market

Running head: BUSINESS IN EMERGING MARKET
Business in Emerging Market
Name of the Student
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Author Note

1BUSINESS IN EMERGING MARKET
Table of Contents
Answer 1:.........................................................................................................................................2
Answer 2:.........................................................................................................................................3
Answer 3:.........................................................................................................................................4
References........................................................................................................................................6

2BUSINESS IN EMERGING MARKET
Answer 1:
In the contemporary global economic framework, there has been considerable dynamics
in the growth pattern of the economies in all corners of the world. In this aspect, it has been
observed that in the last few years, the major developed countries have experienced a slowdown
in their economic growth rate, while the developing countries especially the Asian countries have
shown highly impressive economic growth pattern. They have also shown immense potential in
the aspects of taking over the growth rates of the developed countries.
The impressive growth pattern in the Asian economies started with Japan, followed by
the “Asian Tigers”, consisting of Korea, Taiwan, Hong Kong and Singapore. They were
accompanied by other Asian countries like Malaysia, Thailand and others which have grown
considerably. In the recent period, India and China have been showing surprisingly high growth
rate, thereby emerging as the leading economies in the global scenario.
With the different Asian countries emerging as the new dominant economies in the
international framework, these economies have been getting immense global information and
there are considerable speculations in the international economic scenario, regarding an increase
in their expected significance and power to influence the global economic patterns. This has
given rise to the notion of “Asiaphoria”, which is the belief that these countries will shape up and
improve the trajectory of the global economy in the coming years. This notion has however been
criticized by Lant Pritchett and Larry Summers, as they point out the presence of a highly
generalized assumption behind the prevalence of such notion. This is the assumption that the
Asian countries will go on experiencing the same rate of economic growth in the coming year.
However, Pritchett and Summers put forward the argument that there are possibilities of