The Rest Are Rising...

Some good news today for anyone holding emerging markets equities: JP Morgan's chief emerging market strategist in Hong Kong is expecting stocks in the 23-country benchmark to surge a whopping 39 percent this year, according to a report he released today. He's feeling so good about prospects for the developing world, in fact, he argued that they may be better off than they were before Lehman tanked last summer.

That's pretty dramatic, but we can't say it's terribly shocking. Like Rana argued in her ink-on-paper column this week, this so-called "global recession" isn't exactly global after all. Rather, it's a rich world thing--and if the developing world plays its cards right, it has a lot to gain out of the current unpleasantness. As she notes, JP Morgan isn't the only one singing the emerging markets' praises. Goldman Sachs now thinks the BRICs' combined GDP could overtake that of the G7 a full decade earlier than they forecasted a few years back (the new projection is 2027, in case you were wondering). I can practically hear Lula asking if America likes apples...

The Rest Are Rising... | News