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This book provides an assessment of the megatrends that are reshaping the emerging marketslandscape. With developing countries already accounting for 40% of world GDP, emergingmarkets consumption growth will be an increasingly important growth engine for the worldeconomy over the next two decades. However, emerging markets in many parts of Asia, Africa, the Middle East and Latin America are still facing tremendous economic challenges such aspoverty, inequality, weak governance and inadequate infrastructure. The developed nationsare no longer insulated from the economic shockwaves impacting developing countries, asglobalisation and economic integration have also amplified the transmission effects to the Westthrough immigration flows, cross-border crime and the proliferation of international terrorism. Emerging Markets Megatrends is an essential read for government policymakers, corporateexecutives, international investors and analysts wishing to understand more about the economicdrivers and long-term outlook for emerging markets.

Asian Megatrends assesses the key drivers transforming Asia over the next two decades. The rise of China is transforming the Asia-Pacific, while India and Indonesia are also rising Asian powers that are changing the shape of the Asian economic landscape. However Asia also faces tremendous economic and social challenges over the long-term.

With traditional growth engines failing, the world is looking to Asia for economic salvation. This book charts the rise of China, India and ASEAN nations, who are increasingly being seen as the new growth drivers for the world, and discusses the imminence of a new global economic order.

Even with the contribution from North Sea oil, the British economy has on average since 1973 grown very slowly—barely half as fast as it did during the earlier post-war period. However the period since 1973 cannot be regarded in any sense as normal; for it incorporates two major recessions, and the recovery from these has clearly not been complete.

The last article considered the potential growth of national resources. This article considers the various demands on these resources-reviewing in turn the claims of investment and public expenditure, the resource implications of the need to maintain a satisfactory balance of payments, and finally, as the residual between the sum of these demands and available supply, the implied growth in private consumption.

Most economists would doubtless reject the idea that policy makers or the public should judge budgets solely in terms of a single summary concept, surplus or deficit. Yet there is an undoubted demand for a single statistic which provides at least a rough-and-ready summary of the fiscal position. The attempt to specify such a single statistic has given rise to controversy for many years.