Out of the frying pan into the fire?
A high level of uncertainty will probably continue to accompany the markets in 2012 as well, but there are some attractive opportunities among risky assets.
»MoreOnce an exotic sideshow, now a global attraction
Pressing on, full speed ahead
Countries such as China, India and Co. are clearly no longer minor players on the fringes of the global economy, as they have advanced to become very important market participants. Over the last ten years they have steadily closed the gap to the industrialised countries, and their stature in the global economy is increasing day by day. The reasons for this can be found in the countries themselves: broad-ranging structural reforms, opening up to foreign capital, investment in modern communications technology and education, along with participation in global trade, are all factors accelerating growth in these once exotic markets, and developments which are rendering these countries more stabile as well. The Emerging Markets are living up to their reputation as a driving force behind global economic activity.
Looking at the future prospects for the growth countries, it is clear that the trend will keep rising strongly. The main question is how long this trend will last. Newly industrialising and developing countries still have a very long ways to go before they catch up to the industrialised nations once and for all. Investors can accompany these markets on this journey, taking advantage of the attractive earnings opportunities in the meantime. Raiffeisen Capital Management is a proven partner on this road.