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It’s Not The Asian Century

 

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With the exception of China and India, then, the other large to midsize economies of Asia are acting as a drag on the continent's growth. Meanwhile, the newly emerging markets of Eastern Europe, Middle East, Africa and even parts of Latin America are expanding at above 5 percent. And Europe and the United States are continuing to outpace Japan The result is a growth story that doesn't quite live up to the conventional wisdom that this is "Asia's century."

Sharma is head of co-head of global emerging markets for Morgan Stanley Investment Management.

© 2007

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