Globalisation

An economy in the process of rpid growth and industrialisation

Key Features

• Country undergoing a process of rapid industrialisation
• Population still mainly in povertty; economic growth is removing many from poverty
• Domesic business' struggle to enter global markets

The Origional emerging economies

B.R.I.Cs: Brazil, Russia, India & China (15 Years ago)
China has become the worlds largest economy

Growth ratesEmerging economies achieve significantly higher economic growth rates, because:

• Urbanisation process continues
• Population grows
• Workforce continues to imporive skills and be more productive