Emerging economies now major global growth driver

Emerging economies have become the major driver of global growth and may contribute 80% of global GD...

Emerging economies have become the major driver of global growth and may contribute 80% of global GDP growth in 2007, according to Slim Feriani, chief investment officer at Progressive Asset Management. Feriani manages the US$580m Progressive Advance Developing Markets Trust and the US$30 Advance Emerging Markets fund, both top-quartile performers within their peer groups for 2006. Feriani believes the growing dominance of emerging economies is a major development since the US had accounted for nearly the same global GDP percentage in the near past. “This clearly indicates the ongoing r...