Baillie Gifford’s Mike Gush explains why emerging markets’ growing role in global growth, manufacturing and innovation, means investors may need to rethink their allocations. Capital at risk.
Key points
- Emerging markets are becoming central to global growth, manufacturing and innovation, but remain peripheral in many portfolios
- Investors may still be navigating this changing opportunity set with a map drawn by yesterday’s issues
- As new global champions emerge, the question is shifting from “why own EM?” to “how much is enough?”
Now lost to ruins, Muziris was once one of India’s great trading ports. For centuries traders sailed to the ancient city to buy black pepper, prized as highly as gold. But in 1341, a flood redrew the coastline. The old harbour filled with sand and mud, and a new estuary opened at Kochi. Traders followed the water, and a nearby fishing village grew into a thriving port that survives today.
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