Imagine a world where emerging economies, which currently represent over half of the global GDP on a purchasing power parity basis, occupy the forefront of an inclusive economic transformation. This vision is not a mere flight of fancy; it’s a burgeoning reality in today’s global economic landscape. Emerging economies, which include countries like the Philippines, India, South Africa, and Brazil, are typically characterized by rapid industrialization and burgeoning middle classes. These countries now stand at a critical juncture, as they possess abundant potential to reshape the world’s economic dynamics. However, this potential comes with the challenge of ensuring that their growth benefits all segments of society, not just the upper echelons.
