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Emerging markets will continue to drive global growth, according to Allianz Global Investors. Micha...

Emerging markets will continue to drive global growth, according to Allianz Global Investors. Michael Thompson, vice president of Pimco Europe, expects robust growth from these regions over the next three to five years. Speaking at the Investment Week Markets Forum, he said developing economies will drive growth, but their Western counterparts can only expect single-digit returns. "We have seen a shift in GDP in emerging markets over the last 10 years. Emerging markets have contributed to around 75% of global GDP over the last three years," he added. Thompson said the cyclical downt...