“Next year, EM growth is expected to decelerate on average to 3.6% from around 4% this year. Importantly, the growth premium in favour of Emerging Markets over Developed Markets is projected to continue widening.”
”Asia is set to register the strongest contribution to world GDP once again, despite China’s gear reduction resulting in growth below 4% in 2024. India’s growth is also expected to slightly decelerate to a range of 6%-6.5%, while remaining above its potential growth rate. The economic perspectives for India remain bright, primarily supported by stronger domestic demand rather than external demand. India’s investments cycle, which has been absent for many years, is finally gaining traction thanks to pronounced corporate deleveraging.
Beyond the cyclical downturn, there are structural factors at play that support Emerging Markets. These factors include incrementally higher global fragmentation which is set to continue. This fragmentation involves a great reallocation, near/friend shoring, supply chain de-risking as well as the need for specific materials for the net zero transition.”
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