EMERGING MARKETS
Abstract: Focuses on the United States government's policy on the Big Emerging Markets (BEM), which include the Chinese Economic Area, South Korea, Indonesia, India, South Africa, Poland, Turkey, Mexico, Brazil and Argentina. BEMs' investment on infrastructure projects; BEM's share of global gross domestic product; Projected increases in world imports; Lessons learned from the BEM strategy. THE BIG EMERGING MARKETS During his tenure as Under Secretary of Commerce, the author was one of the architects of the Clinton administration's Big Emerging Markets policy under Secretary of Commerce Ron Brown. He is now dean of the Yale School of Management. The Clinton policy emerged out of a growing conviction that some ten markets will account for the overwhelming growth potential in world imports, not to mention commensurate growth in economic and political influence around the world. These markets include, in Asian--the Chinese Economic Area (China, Hong Kong and Taiwan), South Korea, Indonesia and India; in Africa--South Africa; in Central Europe--Poland and Turkey; and in Latin America Mexico,Brazil and Argentina. The administration concluded that, because many of these c
It put an enormous amount of effort into looking over the immediate horizon and came up with some interesting--and powerful--conclusions. Country Strategies and Country Teams For decades, agencies of the executive branch have been notorious for pursuing many different commercial approaches to a particular country with little or no coordination. Some are heavily involved with the U. All have a sectoral industrial component--a focus on telecommunications, energy, financial services, etc. government at their side to win a fair hearing. Commercial systems, including full respect for intellectual property rights, smoothly functioning capital markets and open government-procurement procedures, are often still developing or lacking altogether. government at their side to win a fair hearing. They include the following: * Information technology, including telecommunications, computers and software; * Environmental technology, including pollution control equipment and consulting services; * The transportation industry, including aviation, automotive trade and the services and equipment needed to build modern rail systems and airports; * Energy technology, especially for the soaring demand for electric power; * Health care technology, including advanced medical equipment, pharmaceuticals, biotechnology and hospital-management services; * Financial services, including banking, insurance and the securities business. If the Russian economy really turns the corner, it could be added to the list. And, because of the enormous promise of these markets, they are a magnet for the world's most competitive companies from the U. By the same token, it is also possible that a country that endures a prolonged setback might be taken off the list.
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Acceptance Essays
