China's transformation from rags to riches isn't over quite yet.
... the China miracle is set to continue with its per capita GDP seen rising to 64th out of 166 countries by 2022, up from being the 133rd-poorest in 1992 — on par with Haiti and with over half its population living on less than $2 a day. The current $16,676 per capita GDP level is already higher than Brazil's when adjusted for purchasing power, according to a Bloomberg analysis of International Monetary Fund data.
Importantly, this rise has translated into tangible benefits. The Chinese live six years longer on average and have full access to electricity, less than two percent of the population live under the global poverty line and the average calorie deficit has been cut by more than half, according to World Bank data going back to 1992.
Over the next five years, China's per-person economic growth will see it bypassing the likes of Mexico and oil-rich Azerbaijan,puttingitjustshyofArgentina.
Like China, fellow G-20 members India, South Korea and Indonesia are expected to achieve double-digit improvements in their per capita GDP rankings between 1992 and 2022. The United States will remain unchanged in tenth place globally.There's more, but you get the gist.
Here's my point: The bulk of the world's growth in the coming years will occur outside of U.S. borders. This is simply demographic, economic, and political reality. The implications for U.S companies (the stocks of whom occupy much of our U.S. equity exposure) are clear -- if you're to grow your customer base, you must grow your influence in the emerging world. The implications for U.S. investors are clear as well -- a smart global strategy will be absolutely key to your long-term success.
Be sure to watch the video we posted this morning...