On Monday, February 9th, Dr. Vladimir Kvint, presented his new book, THE GLOBAL EMERGING MARKET: Strategic Management and Economics, at a Symposium on this topic at the United Nations Economic and Social Council.
The Symposium was sponsored by the Permanent Missions of Albania, Chile and Turkmenistan to the United Nations. The participants included close to 50 Ambassadors and Diplomats, representatives of The World Bank and other multilateral institutions concerned with the global economy, heads of corporations, Professors and scholars.
Using comparative statistical and quantitative analysis, Dr. Kvint presented an overview of the current world economy and predictions for its evolution in the coming years. Many surprising discoveries were discussed during the event. It was noted, for example, that the Global Emerging Market is responsible for almost three times more of the global economic output than the United States. The US is also behind the GEM in its share of global bank assets. Developed countries are much behind the emerging markets of Brazil and Russia in terms of renewable water resources, oil and natural gas reserves.
In a time when the global economic and financial crisis has curtailed growth in developed countries, the Gross National Products of many Emerging Market Countries continue to grow. For this reason, Dr. Kvint considers Global Emerging Market as the "engine" that will pull the world output to a positive 2.5 percent, even during a this global crisis.
Despite the importance of Emerging Market Countries to the global economy, international institutions, such as the UN, are neither using the term "Emerging Market Countries" nor ranking them accurately. New international institutions that understand the evolving global economy are needed. Such institutions will be better equipped to rank national markets, predict and avert financial crises in the future.
Dr. Kvint's book stands alone as the first definitive monograph on the Global Emerging Market and its place in the world economy. For this reason, the United Nations hosted a rare Symposium that centered on an individual book. Understanding the inner-workings of the Global Emerging Market and its place in the World Economy could not be more crucial at this time.
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