The Crisis Has Helped Emerging Economies to Mature
Emerging countries will grow faster compared with those of developed nations after emerging from the world economic crisis, and banks that have operations in these markets will benefit from of a number of advantages, according to the head of a group that owns Renaissance Capital, the largest investment bank in Russia, writes The Guardian.
“If we look in perspective, over 12 months, we are extremely optimistic regarding the situation of emerging markets”; said Stephen Jennings, the executive director of Renaissance Group.
West will be buried in debt and government regulations, while countries with emerging markets will be freer to accelerate the development process intended to reduce the difference separating the developed world, he has added. “At this point the West will review its position towards economic liberalism, while emerging markets are going in exactly opposite direction“, said chief of Renaissance.
Banks and financial institutions in the emerging states possible will have advantage of the situation, because large developing countries (Member BRICE) have understood that leaving the West, to take care of their excess capital has not been too inspired decision.