This is our mid-winter message to readers in the southern hemisphere. We have relatively few readers there, but everybody’s gotta be someplace, and in a world where somebody’s always awake working, it helps to keep things in perspective, even if you’re at the beach.
As this is being written, various countries in what used to be known as the first world are doing their best to avoid downward mobility.
Citizens in emerging market countries should take heart; you may not have to increase your standard of living so much anymore to rival some of the European countries. G-7 GDP was double that of the E-7 countries (China, India, Brazil, Russia, Mexico, Indonesia and Turkey) in 2000. By the end of this decade, G-7 and E-7 GDP will be about equal. There will still be a big difference per capita GDP, but you can see the trend clearly enough.
This should serve as an encouragement to doing business in developing markets.
It’s clearly tougher to establish finance in some places than others. We have a simple view about finance: find out what’s available and where, then we will do everything you can to make the deal fit the available financing parameters.