Emerging markets and the World (Business Standard)

From the Article:

The world's leaders convening in Washington for the World Bankand International Monetary Fund meetings this week have been greeted by a muddled outlook for the largest economies. The United States is bouncing back but blighted by polarised politics that could yet extract a heavy economic toll. Europe is recovering at a tepid pace from depressed levels. In Japan, Abenomics is a work in progress.

But leaders will have greater clarity about emerging markets: the party is over. Gloom about these countries' growth prospects is based in large part on the deterioration in the very favourable external economic environment they have enjoyed in the past decade: high commodity prices and cheap capital. But clarity on the gloom is misplaced because medium-term emerging market growth is misunderstood.

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