Ask big international private banks where they expect the strongest growth opportunities to come from in the next few years and they talk increasingly of “emerging Asia”.
The tagline has caught on as, after years of rampant expansion, the region is polarising into more mature markets such as Hong Kong and Singapore and others that still have the potential for faster growth.
Many private banks are looking beyond the most competitive Asian hot spots to the next tier of emerging markets, whether that means Chinese cities outside Beijing or parts of the Middle East and India they have not yet tackled.
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