UK must up EM presence to avoid 'slow lane of history' - PwC

UK companies must develop their presence in emerging markets or risk being left behind "in the slow lane of history", says PwC.

In its report ‘The World in 2050', PricewaterhouseCoopers says the balance of power has shifted towards emerging markets since the global financial crisis. It says the UK must make inroads into EMs and increase exports to these economies, but warns it will not be easy. "This changing world order poses both challenges and opportunities for businesses in the current advanced economies," the report says. "On the one hand, competition from emerging market multinationals will increase steadily over time and the latter will move up the value chain in manufacturing and some services. "...