The rapid development of countries like China and India is a remarkable phenomenon, says Vince Cable, the UK’s Secretary of State for Business, Innovation and Skills. “In a matter of one generation, China has broken through to a degree that took over a century in Britain. Solidly established precedents like South Korea show that this breakthrough can be sustained. It is clear that major so-called emerging markets have already emerged.”
[This article is republished courtesy of INSEAD Knowledge
http://knowledge.insead.edu, the portal to the latest business insights and views of The Business School of the World. Copyright INSEAD 2023]