Exports between leading emerging markets will drive global growth in the decades to come, transforming international trade flows, according to a report published yesterday.
The report, compiled by HSBC and Oxford Economics, predicts intra-emerging market trade is set to expand rapidly in the years to 2030 as these economies grow wealthier and domestic demand rises.
“Emerging markets are developing at a phenomenal pace and are set to reshape world trade patterns over the next 20 years,” said James Emmett of HSBC.
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