From Third World to World Class. The Future of Emerging Markets in the Global Economy

Entrepreneurs and investors who want to stay ahead of the pack often look to so-called emerging markets for new opportunities. Investment guru Mark Mobius has previously touted investment options in Mobius on Emerging Markets (1996), and Jeffrey Garten surveyed the business climates of big and emerging markets in The Big Ten (1997). Marber is a founding member and president of Wasserstein Perella Emerging Markets L. P., an asset-management firm devoted primarily to investing in developing regions. He covers much the same ground as Mobius and Garten, but he also identifies and analyzes the underlying trends he says are creating the economic transformation of much of the less-developed world. Marber argues that multinational corporations are "helping the poor get richer and the rich stay rich." He also makes the claim that the world economy is not based on a zero-sum scenario; growth of the Third World will not come at the expense of industrialized economies, though some First World nations might face an "economic squeeze" as a result of "restrictive labor regulations." David Rouse