New York

Those nations wishing to join international markets are open to foreigners willing to build their economic infrastructure, but are demanding a greater share of profits. Unlike what happened in the early days of colonialism, these countries not to be exploited. The approach is now more sophisticated, he says. “It’s as if they were saying: ‘We continue to work with you, but on our terms.” Approach is a way more like the U.S., “says Henisz. “The goal of these countries is play by the same rules as we do.” Henisz says, that there is no specific time in which countries “emerge.” “There is a change happening soon. The forces we’re talking about, and make a different country, are not clearly defined, “he says.

“There is no force in Russia or Brazil that is not also present in the U.S.. It’s simply a question of the impact that these forces are and how the institutions manage the uncertainties of the country. ” Marshall Meyer, Wharton management professor, says that many Chinese cities are apparently as sophisticated as any in Europe or North America, but rural areas of China remain desperately poor. The household income is ten times higher in urban centers coastal cities, like Shanghai, compared with the interior provinces of the country, he noted. “Has China graduated?” Asked Meyer.

“If we look at capital formation and investment in fixed assets, it appears so. If you look at the disposable income of families, the answer will be negative. ” Finally adds us that emerging markets do not seem to be a bad option, with China in the lead. However it is not easy to go directly to these markets, as the information available about Chinese companies listed in Hong Kong or New York is not particularly clear. Under these conditions, possibly the best option for individual investors is to go to managed funds. In these days it is announced that IBM and Lehman Brothers have created a joint fund to invest in the “financial and business transformation of Chinese enterprises.” What is not clear to me the press release that has circulated is whether a fund is open to private investors or an initiative two companies closed. In parallel, IBM and Citigroup are made with 85% of bank Guangdong Development Bank (GDB), another step closer to the market financially. The operation may have some regulatory hurdles as China does not allow more than 25% participation of foreign companies, but this limitation should disappear by the end of the year with the entry of China into the World Trade Organization.