It's Morning In Emerging Markets

Yearning for the good old days of Reagan-style capitalism? Try emerging markets. Believe it or not, the Reagan Revolution is alive and well. Just don't go looking for it in Washington, D.C. Instead try Asia, Latin America or eastern Europe. "It's kind of like the early days of Reagan in emerging markets," says Justin Leverenz, portfolio manager of the $5.4 billion ). "You see flat-tax policies, deregulation, privatization and productivity improving at a very rapid pace." The analogy isn't perfect. Emerging markets still have a lot of room to improve in key areas like corporate governance, transparency, quality of management and entrepreneurship. Even in American capitalism's darkest hour, it will be hard to mistake Sao Paulo for Silicon Valley or Mumbai for midtown Manhattan. Still, one can't help but get the sense that... [read full story]                    

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