Notes 9-2-2010

Notes - COMM 4559-501 Emerging Markets Notes(A3 Emerging Markets why bother Triad Theory o There are only three meaningful markets in the world

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COMM 4559-501: Emerging Markets Notes 9-2-2010 (A3) Emerging Markets – why bother? “Triad Theory” o There are only three meaningful markets in the world Western Europe North America Japan, Australia, + NIC (Taiwan, Thailand, South Korea) Early 1980s presentation by Business International What has happened since? o Technology and communications advance o Communism – a system designed for equality that only accomplished “making everyone equally poor” – Thomas Friedman – collapses o Economic liberalization and rising prosperity o Gradual opening of cross-border trade through GATT, EU, NAFTA, and bilateral deals “Black cat, white cat, all that matters is that it catches mice” o Deng Xiaoping justifying the changes to the Chinese economic system – he made a gradual change to a more capitalistic society Ideological barriers to capitalism are falling (except perhaps in N Korea, Cuba…) The “Bay Watch” effect, or the impact of American culture and prosperity on the world American culture served as an economic opportunity withaout intenet What is happening to the world of the Triad Theory? o Four of the top five most populous countries (July 2009 UN data) are emerging markets #1 China (1,332 million) #2 India (1,166 million) #4 Indonesia (231 million)
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#5 Brazil (191 million) These four states represent about 43% of the world’s population What is happening to the world of the Triad Theory? o
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Notes - COMM 4559-501 Emerging Markets Notes(A3 Emerging Markets why bother Triad Theory o There are only three meaningful markets in the world

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