Citizens’ satisfaction is very high if production, consumption, or foreign investment in a relatively underdeveloped country or region increases significantly. There is also a great interest of investors and opportunities for stable and rapid growth of the economy. Every emerging country contributes to the growth of the global economy in diverse ways.
2018 was somewhat slow in some countries, but also a transmogrification in other countries. The difference is that the countries in which the changes occur may have made a lot of effort to achieve this feat whiles others were ‘creeping’. These creeping countries experienced currency problems, lower commodity prices and lower investor confidence. This is a clear sign that emerging markets are not the same.
Several factors have been an obstacle for some developing countries. According to surveys, short term of government officials is one of them. To satisfy citizens, and not for personal reasons, government officials should have enough time to regulate or control public affairs to meet national development standards. On the other hand, other economists do not accept this requirement. According to them, it does not necessarily has to be how long or short the term plan is but the efficiency within the time frame is what matters.
Negative events in the stock market also had different effects on the main macroeconomic indicators. Yes, national governance is not as easy as a pie, but the macroeconomic approach is controlled with extra vigilance, especially with regard to expansion. This approach will bring great economic growth in the future.
The Brookings Institution pronounced a global turning point that in 2018, historically, more than half of the world was considered “middle class”. It is expected that consumption in developing countries will reach 30 trillion dollars a year by 2025, which is expected to be about half of world global consumption, with an increase of 12 trillion dollars in 2010.
Asia seems to be faster than most of the growing global economies. Do you remember the big trade battle between America and China? Well, investments in trade and production were transferred to the ASEAN economies. And it was a blessing in disguise for these Asian countries as they came as a foredeal. Consequently, many multinational companies are rethinking their supply chains.
It is refreshing to know that some countries are rising from their slumber to a higher level to be a better economy. Countries like India have worked against certain development al obstacles and are expected to grow in 2019. Particularly, when they were often hit by both currency and exports decline. India is one of the fastest growing countries in the world under collective pressure. According to the World Bank, India’s gross domestic product is expected to grow by 7.3 percent in this fiscal year.
Latin American countries, including Colombia, Chile and Peru, are gradually recovering from their weak economy to a growing economy, because of the high growth rate of these countries. Brazil and Mexico, which struggle with political ambiguity, are also in a hurry to get out of it. All of these countries benefit from the ideas of industrialized countries. The International Monetary Fund (IMF) anticipates that growth in the Middle East and North Africa will be limited, in part, by weak oil production and geopolitical tensions, but will still achieve 2.4% GDP growth in 2019 before recovering to around 3% in 2020.
Unfortunately, business conditions in South Africa are very unhealthy and neighboring countries are isolated from the risk of this crisis. This problem exists not only in South Africa, but also in several other countries. However, the South African government is working hard to change many problems. One third of sub-Saharan Africa is expected to grow by more than 5% this year, securing the title of the world’s second fastest growing region by 2020.
On the African continent, Ivory Coast ranked first in 2019, with a growth of 7.4 percent. Rwanda, Senegal and Ghana each contributed 7.2, 7 and 6.3% respectively. In order for the national economy to be regarded as a developing country or an industrial country, it must be one of the most dynamic investment objectives because of its economic stability, quality of governance, and company regulations. In this way, you have the opportunity to join a group of industrial countries such as China, the fastest growing economy in the world in 2019, with 6.4% growth against 5.8% in India.