Our MP Hugo Swire is investing in “emerging economies” with his controversial pal, Lord Barker:
But what is an “emerging economy”? Fortunately, a business publication has an explanation:
” … Top of the list of emerging markets is China, according to Ross Teverson, co-manager of Jupiter Emerging & Frontier Income Trust. China’s economy is predicted to grow by 6.6 per cent in 2018, compared to 1.6 per cent for the UK economy, as stated by the International Monetary Fund.
“China is the obvious example of an emerging market country making rapid and dramatic economic progress; today, a number of Chinese companies rank among the largest and most innovative globally.”
Another region to consider is sub-Saharan Africa, according to Teverson, where a growing middle class, as well as improved infrastructure, communications, and technology, is creating several attractive long-term investment opportunities.
“Gradually increasing penetration of financial products, combined with remarkable demographics – the median age in Kenya is just 20 years – should create a backdrop that, for well-placed financial institutions operating in the region, should prove conducive to strong and sustained earnings growth for a long time to come.”
While some savers might be sceptical of putting their money at risk in these markets, it’s worth remembering that the emerging economies of today may likely grow into leading, developed ones in the future.
After all, the world’s largest economy, the US, was actually considered an emerging market 150 years ago. …”
Source: City AM
So, no investment in East Devon then!