Can Emmerging Markets Save The World Economy? Mohamed El-Erian And Michael Spence

06/08/2010 01:41 pm ET | Updated May 25, 2011
  • Mohamed A. El-Erian and Michael Spence Project Syndicate

Over the past two years, industrial countries have experienced bouts of severe financial instability. Currently, they are wrestling with widening sovereign-debt problems and high unemployment. Yet emerging economies, once considered much more vulnerable, have been remarkably resilient. With growth returning to pre-2008 breakout levels, the performance of China, India, and Brazil is an important engine of expansion for today's global economy.

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