Ruchir Sharma, head of the Emerging Markets Equity team at Morgan Stanley Investment Management, says China, Brazil, Russia and South Africa might have reached a plateau in growth, and that India has no more than a 50 percent chance of sustaining its good performance. So which countries will become breakout nations, maintaining high growth or exceeding expectations in the coming years?
Sharma identifies four prospects — Turkey and Indonesia, two Muslim democracies, have strong credentials to become the next breakout nations. And in Europe, he sees the top two candidates as being Poland and the Czech Republic. He projects a mixed outlook for the United States, saying innovation and entrepreneurship could help the nation to beat expectations, but we have pressing current problems that demand attention. H/T CATO Institute