The emerging world now rivals the rich countries

The emerging world, long a source of cheap labour, now rivals the rich countries for business innovation (Adrian Wooldridge). The United Nations World Investment Report calculates that there are now around 21,000 multinationals based in the emerging world. Multinationals expect about 70 % of the world's growth over the next few years to come from emerging markets, with 40 % coming from India and China. People who use to think of the emerging world as a source of cheap labor must now recognise that it can be a source of disruptive innovation as well. The world rurned upside down, A special report, The Economist, April 17th, 2010 (p.1-18) See « Are you ready for the 21st cebtury, no 8 »