The postwar miracle was supercharged by the population explosion, by globalization (rising flows of goods, money and people), and by the rapid expansion of debt. Then came the global financial crisis, and a new era defined by three D’s: de-population, de-globalization and de-leveraging. In this new age, there will be fewer miracle economies in the emerging world, and every country needs to scale its definition of rapid growth.
Ruchir Sharma is Head of Emerging Markets and Chief Global Strategist at Morgan Stanley Investment Management. He is the author of the international bestseller, Breakout Nations, and contributes regularly to the Wall Street Journal, the Financial Times, Foreign Affairs and other publications. One of the world’s largest investors, he was named one of Foreign Policy’s Top 100 Global Thinkers (2012) and one of Bloomberg Market’s 50 Most Influential thinkers (2015).
Ruchir presents his ten rules for identifying change in the post-crisis world. As described in his best-selling book “The Rise and Fall of Nations,” Sharma’s rules give practical investors and corporate leaders clear tools for identifying which emerging and developed countries are poised to flourish, or to falter, in this difficult environment.