Emerging markets lead global growth - Invesco

The leadership of global economic growth has shifted to emerging markets, especially those in Asia, according to Invesco chief economist, John Greenwood.

Emerging economies have undergone a stronger recovery than developed markets, a trend Greenwood expects to continue as the economic drivers switch from exports to domestic demand. "Asia is shifting from export-led to domestic-led growth; and domestic demand growth is also a feature in Latin America, notably Brazil," he says. "Consumer spending is being boosted by rising incomes and the rapid spread of consumer goods as incomes rise through critical thresholds. These developments are, by their very nature, long term." The growth in emerging market economies is in "sharp contrast to ...