Streams

Global Thinking

Friday, December 07, 2012

Ruchir Sharma, head of emerging markets at Morgan Stanley, author of Breakout Nations: In Pursuit of the Next Economic Miracles, and just named one of Foreign Policy's Top 100 Global Thinkers, looks beyond the BRICs at the global economic picture.

Guests:

Ruchir Sharma

The Morning Brief

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Comments [17]

Zhuubaajie

Sharma's study is 10 countries that grew for 5% or more for 10 years? And that is supposed to be relevant to China??

How about 34 years of above 9% growth without any significant dips?

Western economic theory cannot even explain after the fact how the Chicoms did it. It is like trying to explain quantum mechanics to a kindergartener - the necessary math and language understanding simply is lacking.

Dec. 13 2012 12:33 PM
Superf88

Huh? This guy sounds like a time machine delivered him from 1995.

"It's the environment stupid" -- Look out, Turkey! He can do 3rd world -- can he do first?

Dec. 07 2012 03:10 PM
Jf from Ny

This guy thinks its okay to destroy the earth with dirty fuels.

Dec. 07 2012 12:03 PM

A standard Wall ST salesman as an area expert? No mention that the most profitable markets for natural gas are for LNG & are export markets!

It can't be part of energy independence if our natural gas is slated for export, just like the shale fuel that would run through the Keystone XL pipeline.

Dec. 07 2012 12:01 PM

How does what the guest is saying solve the tremendous gap,the income disparity, in this country that has caused such intellectual and economic loss. We have stunted the growth of millions of young people who will never recover. What is the real purpose of an economic system such as being promoted by "market economies"?

Dec. 07 2012 11:58 AM
Jf from Ny

This man thinks its perfectly ok to destroy the earth with dirty fuel.

Dec. 07 2012 11:56 AM
Tim

Weren't emerging markets once known as third world countries? And what are frontier mkts?

Dec. 07 2012 11:55 AM
Marcia

I am shocked that when speaking of USA energy independence and the economy, at the facile dismissal of the environmental sustainability economic impact, particularly as relates to fraking and shaling. At DOHA developing nations were attempting valiantly to confront the developed nations about this linkage. Simply becoming energy independent here, without massive development infrastructure for new energy technologies (jobs, jobs, jobs),
does nothing for long term energy independence and economic sustenance. Where are your questions on how these issues are linked?

Dec. 07 2012 11:55 AM
Jack

Vanguard has changed the composition of its emerging market index fund and ETF (VWO). They are using a FTSE index instead of the MSCI emerging market index. The difference is that the FTSE does not include South Korea.

Does this mean anything I terms of how we define emerging mkts.

Dec. 07 2012 11:54 AM
sophia

Ireland!?! LOl!

Ireland is suffering precisely BECAUSE it has bent itself into pretzels for the comfort of the market.

The countries that have done the best are the Scandinavian group which should be a wasteland according to what "the market" alleges.

Dec. 07 2012 11:51 AM
Joshie

Would love to see this guest outsourced by China - gee, wonder what he'd do for a living when HIS job is gone? Hypocrite.

Dec. 07 2012 11:46 AM
Joel from Nyack

There is more and more positive information on the return of jobs to the USA. Read the two articles in the current issue of The Atlantic, one by James Fallows. There are real manufacturing jobs returning. GE has found that it is now cheaper to manufacture some large appliances here.

Dec. 07 2012 11:46 AM
Sheldon from Brooklyn

We have heard this argument before - with the rise of fascism.

A country, especially a developing one - can get a lot of things done with fairly well run, one party rule. You can also get a lot of things done, doing cocaine everyday, dodging taxes, or speeding - sooner or later, things will catch up to you.

This is the same country where people literally jump out of windows making ipads, where poorly built schools constructed by corrupt cronies, collapse and kill children, where babies literally starve to death on imitation formula.

Democracy is messy and pathetic but it's still the safest form of government.

Dec. 07 2012 11:45 AM
Elaine from baltimore

Please comment on Mongolia as an emerging market.

Dec. 07 2012 11:40 AM
adrienne weiss from UWS, NYC

The recent UN meeting spent less than an hour on the 40,000 slaughtered in Syria and 6 hours the next day on Israel. What's going on? Let's here about the double standard and let's hear about Syria!

Dec. 07 2012 10:34 AM
Kay

I have also heard of MIST. Mexico, Indonesia, South Korea and turkey

Dec. 07 2012 10:03 AM

Is the area of environmental impact (I suppose you can think of it as "customer-preservation") something MS takes into account when investing?

Would you personally support an Environmental Tax in China (or globally, but starting w China), earmarked to reduce CO2 and cancerous emissions? Like a VAT but calculating the total environmental toll of a product from beginning to end? (Such a tax would make the cost of products higher, but probably not higher than if they were being made in the US.)

If so, what could MS do about it -- today?

If MS does not take the environment -- aside from "obeying local laws" -- into account, then what is your reaction to the World Bank president's statements yesterday, basically warning that without changing our ways, the world will face Hurricane Sandy's continuously by 2060 or before.

Dec. 07 2012 09:07 AM

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